The 2019 $0 down, VA home loan limit for LA (Los Angeles) County is $726,525.
Los Angles is the most populated county in the United States (9.96 million people) and the city of Los Angeles is known for its rich ethnic culture centers, the entertainment industry, its coastline & mountains.
Los Angeles is commonly divided by the following major divisions: Eastside, San Gabriel Valley, Pomona Valley, Westside, Beach Cities, South Bay, Palos Verdes Peninsula, South Los Angeles, Gateway Cities, San Fernando Valley, portions of the Antelope Valley and Santa Clarita Valley, Downtown Los Angeles, and Mid-Wilshire.
Los Angles is home to the following military installations:
- Edwards Air Force Base
- Los Angeles Air Force Base
- USAF Space Command’s Space and Missile Systems Center (SMC)
Veterans living in Los Angeles
Based on VA guidelines, the VA limits their loan guarantees to a maximum of $417,000 unless it’s listed higher based on county limits. In the case of Los Angeles County, California, that limit is $668,750, which reflects the higher real estate prices in the Los Angeles County area. That’s for a 0 down, VA home loan limit.
When people hear of Los Angeles, they immediately think of Sunset Boulevard, Hollywood, movie and recording industry stars and glamour. But there’s another side of Los Angeles County – one that many veterans are familiar with, and that includes Edwards Air Force Base, Los Angeles Air Force Base and the USAF Space Command’s Space and Missile Systems Center (SMC). Los Angeles County is also a wonderful place to raise a family, with many cities and areas in the surrounding communities that offer good schools, beautiful homes and an enjoyable quality of life.
Los Angeles is the most populous county in the United States, and the city of Los Angeles is known for its diverse ethnic cultural centers, the entertainment industry, a gorgeous coastline on the Pacific Ocean and majestic mountains around the area. Speaking of population, Los Angeles County’s population is exceeded only by eight states. There are now over 10.4 million residents in Los Angeles County!
Often called the “Creative Capital of the World,” almost one in every six residents in Los Angeles County works in a creative industry. In fact, there are more artists, writers, filmmakers, actors and musicians living and working in Los Angeles County than anywhere else.
It’s home to Hollywood, recognized worldwide as the center of the motion picture industry. Culturally, Los Angeles County is one of the top centers in the United States, with 841 museums and art galleries – more museums per capita than any other city in the world!
Here’s another interesting fact: LA County has more than 87,000 jobs related to the fashion industry, which makes it larger than New York’s fashion district workforce! And speaking of large – Los Angeles itself has the largest government center outside of Washington, D.C.
For sports fans, Los Angeles offers a wide array of sports for every taste – from pro basketball to hockey some of the top college basketball teams in the country. There is currently no NFL football team, but a stadium in being built and will be ready in 2016, and there are hopes that an expansion team will be brought to the County.
Los Angeles County features a very robust economy and business community, which is driven mostly by international trade, television, motion pictures, video games and music recordings, plus aerospace, technology, fashion and tourism.
For healthcare, Los Angeles is well known for its top medical facilities and hospitals, including Cedars-Sinai Medical Center, Kaiser, the University of California hospitals and many others. Speaking of universities, Los Angeles County has three public universities and dozens of private colleges specialty schools, including the University of California in LA, the University of Southern California, the School of Cinematic Arts, Colburn School and USC Thornton School of Music, just to name a few.
The median price of a home in Los Angeles County is $$443,300, but the range of home prices runs from condominiums under $60,000 to multi-million dollar mansions overlooking the Pacific Ocean. The statement, “there’s something for everyone” truly does apply to the home choices in Los Angeles County.
Quality of life is generally high in Los Angeles County. On the downside, the impact of congested freeways, longer commute times and a higher cost of living (30% above the national average) impacts the overall quality of life. But 60 miles of beaches and a subtropical-Mediterranean climate help to offset the traffic congestion and the higher cost of living.
The County is home to six Fortune 500 companies, along with a multitude of companies that are headquartered in the area, from California Pizza Kitchen and the Cheesecake Factory to the Jim Henson Company, Mercury Insurance Group, Herbalife, Pabst Brewing, Sunkist, Farmers Insurance Group, Guess?, J2 Global Communications and many, many others. In fact, compared to the world’s top 20 countries, LA County ranks in at number 16! As the economy picked up, the job market in Los Angeles County has steadily improved.
If you’re a veteran planning on a move to Los Angeles County, you’ll have a lot of choices in terms of where to live. Los Angeles is of course the largest city, but there are many other areas as diverse as the population itself. Some of the better-known cities in Los Angeles County include Burbank, Glendale, Inglewood, Long Beach, El Monte, Palmdale, Pomona, Santa Clarita, Torrance, West Hollywood and Whittier.
For veterans looking to purchase a home in the Los Angeles County area, a VA loan offers many advantages over other financing options. The biggest advantage is the competitive interest rates that VA financing offers. But the VA’s competitive rate is just for openers.
With a VA loan, you can purchase a home, build a new home, or simply make extensive repairs to your home. You can also use the loan to make energy efficient upgrades to your existing home. But what a lot of veterans are doing is using a VA loan to refinance an existing loan in order to take advantage o the low interest rates available. Here’s why: Those low interest rates help lower your monthly mortgage payment, saving you money every month.
There are a lot of other advantages to having a VA loan. You VA loan is assumable – which could prove to be a big advantage to you when you go to sell your home. The person assuming the loan has to qualify, of course, but it is assumable.
Because it is a VA loan, the VA limits the amount of closing costs you pay on your loan. It’s not a huge amount of money, but every little bit helps. You can also prepay your VA loan without a penalty. Here’s something else you should consider: if you ever have a problem making your monthly mortgage payments, the VA will be there to help you with advice and understanding. It’s good to know!
Ok, so you’ve decided to move ahead with your VA loan, and you’ve obtained your VA certificate of eligibility. Be aware that while you are in fact eligible to apply for the loan, it doesn’t mean you’ll be approved. You’ll still have to qualify for the lender. But there are some things you can do to prepare that will help ensure you qualify.
Right out of the box you need to get a copy of your credit report. Review it to make sure you don’t see any discrepancies on there – mistakes do happen. And speaking of credit, note that the VA looks very closely at the previous 12 months when reviewing your credit, so be sure you make all of your payments on time.
Here’s another caveat: most people don’t realize it but making a big credit purchase or charging up large amounts on your credit cards impacts your credit score. It’s best to save those purchases and charges until AFTER you are approved.
For employment, the VA likes to see 2 consecutive years on the job. Sure, there are ways around that – but it seems 2 years is the “gold standard” for loan approval. If you don’t have it, be sure to have a good explanation as to why you weren’t continuously employed.
Also, the VA wants to be sure that you can not only pay your mortgage when it’s due, but that you can also pay your other expense as well. So they have minimum income requirements, which depends on the size of your family and where you’re located.
These are just some guidelines that can help you prepare for the approval process. There are others, but these are the main ones to focus on. To find out more, or for additional information or assistance on applying for a loan in Los Angeles County, please know that the professionals at VA Home Loan Centers are ready to help you!
CalVet Home Loan
The CalVet Home Loan is also a great way to get a property! This loan can be used for a mobile home, farm land, or a house in California. It is characterized by no down payments and low interest rates. Read this article or call us at 888-573-4496 to learn more.
Los Angeles County Property Search
You may use the property search to view properties in the following cities and areas: Los Angeles, Long Beach, Glendale, Santa Clarita, Pomona, Palmdale, Pasadena, Torrance, Lancaster, El Monte, Inglewood, Downey, West Covina, Norwalk, Burbank – Unincorporated areas: Acton, Alondra Park, Altadena, Avocado Heights, Charter Oak, Citrus, Del Aire, Desert View Highlands, East Compton, East La Mirada, East Los Angeles, East Pasadena, East San Gabriel, Florence-Graham, Hacienda Heights, La Crescenta-Montrose, Ladera Heights, Lake Los Angeles, Lennox, Littlerock Marina del Rey, Mayflower Village, North El Monte, Quartz Hill, Rowland Heights, South San Gabriel, South San Jose Hills, South Whittier, Val Verde, Valinda, View Park-Windsor Hills, Vincent, Walnut Park, West Athens, West Carson, West Compton, West Puente Valley, West Whittier-Los Nietos, Westmont, Willowbrook, Agoura, Agua Dulce, Antelope Acres, Athens, Bassett, Big Mountain Ridge, Big Pines, Big Rock, Bouquet Canyon, Castaic, Castaic Junction, Del Sur, Del Valle, Gorman, Juniper Hills, La Crescenta-Montrose, Lake Hughes, Leona Valley, Llano, Pearblossom, Kinneloa Mesa, Stevenson Ranch, Topanga, Two Harbors, Valyermo, and Centennial (development in plan).
Please call VA Home Loan Centers @ 1-888-573-4496 or use the form below for an email of current homes for sale.
Los Angeles Approved Condos
- Los Angeles VA Loan Approved Condos (numbers)
- Los Angeles VA Loan Approved Condos (letter A)
- Los Angeles VA Loan Approved Condos (letter B)
- Los Angeles VA Loan Approved Condos (letter C)
- Los Angeles VA Loan Approved Condos (letter D)
- Los Angeles VA Loan Approved Condos (letter E)
- Los Angeles VA Loan Approved Condos (letter F)
- Los Angeles VA Loan Approved Condos (letter G)
- Los Angeles VA Loan Approved Condos (letter H)
- Los Angeles VA Loan Approved Condos (letters I & J )
- Los Angeles VA Loan Approved Condos (letter K)
- Los Angeles VA Loan Approved Condos (letter L)
- Los Angeles VA Loan Approved Condos (letter M)
- Los Angeles VA Loan Approved Condos (letter N)
- Los Angeles VA Loan Approved Condos (letter O)
- Los Angeles VA Loan Approved Condos (letter P)
- Los Angeles VA Loan Approved Condos (letters Q & R )
- Los Angeles VA Loan Approved Condos (letter S)
- Los Angeles VA Loan Approved Condos (letter T – U)
- Los Angeles VA Loan Approved Condos (letter V)
- Los Angeles VA Loan Approved Condos (letter W-Z)
- California VA Loan Information: https://www.vahomeloancenters.org/california-va-home-loan-limits/
- VA Loan Information by State:https://www.vahomeloancenters.org/va-loan-limit-maximum-va-loan-amount/