Table of Contents
- What is the VA Loan Limit?
- How to Apply for a VA Home Loan?
- What is the Median Home Price?
- What are the VA Appraisal Fees?
- Do I need Flood Insurance?
- What inspections do I need?
- How do I learn about Property Taxes?
- What is the Population?
- What are the major cities?
- About Riverside County
- Veteran Information
- Apply for a VA Home Loan
- VA Approved Condos
VA Loan Limits?
2021 VA Home Loan Limit: $0 down up to $5,000,000* (Subject to lender limits) /2 open VA loans at one time $548,250* (Call 888-573-4496 for details).
How to Apply for A VA Home Loan?
This is a quick look at how to apply for a VA home loan in Riverside county. For a more detailed overview of the VA home loan process, check out our complete guide on how to apply for a VA home loan. Here, we’ll go over the general steps to getting a VA home loan and point out some things to pay attention to in Riverside County. If you have any questions, you can call us at VA HLC and we’ll help you get started.
- Get your Certificate of Eligibility (COE)
- Give us a call at (877) 432-5626 and we’ll get your COE for you.
- Are you applying for a refinance loan? Check out our complete guide to VA Refinancing.
- Get pre-approved, to get pre-approved for a loan, you’ll need:
- Previous two years of W2s
- Most recent 30 days paystubs or LES (active duty)
- Most recent 60 days bank statements
- Landlord and HR/Payroll Department contact info
- Find a home
- We can help you check whether the home is in one of the Riverside County flood zones
- Get the necessary inspections
- Termite inspection: required
- Well or septic inspections needed, if applicable
- Get the home appraised
- We can help you find a VA-Certified appraiser in Riverside County and schedule the process
- Construction loan note: Construction permit/appraisal info
- Building permit
- Elevation certificate
- Lock-in your interest rates
- Pro tip: Wait until the appraisal to lock-in your loan rates. If it turns out you need to make repairs, it can push your closing back. Then you can get stuck paying rate extension fees.
- Close the deal and get packing!
- You’re ready to go.
What is the Median Home Price?
As of March 31, 2021, the median home value for Riverside County is $461,992. In addition, the median household income for residents of the county is $67,005.
What are the VA Appraisal Fees?
- Single-Family: $600
- Condominium: $600
- Manufactured Housing: $600
- 2-4 Unit Multi-Family: $850
- Appraisal Turnaround Times: 7
Do I need Flood Insurance?
- The VA requires properties to have flood insurance if they are in a Special Flood Hazard Area.
- Although much of Riverside County is desert, that doesn’t mean there aren’t any flood hazard areas, particularly in the northern parts of the county. When you are looking at places, your real estate agent can help you determine if a property is in a flood hazard area.
What inspections do I need?
- Termite inspections are required in Riverside County. In addition, if the property has a well or septic tank, you’ll need to get those inspected.
- If you are doing new construction in Riverside County, you will need an Elevation Certificate if the property is in a flood hazard area.
How do I learn about Property Taxes?
- Peter Aldana is the current tax assessor for Riverside County. His office can be reached at 4080 Lemon Street, Riverside, California 92501 or by calling (951) 955-6200.
- Disabled veterans can be eligible for property tax exemptions in California. You can apply for your exemption through the County Assessor’s Office. In addition, there is property tax relief for owner-occupied homes.
What is the population in?
- The county’s population of 2,470,546 is 50% Hispanic, 34% White, and 7.3% Black.
- Most county residents are between 18 and 65 years old, with 24% under 18 years old and 14% older than 65.
- In total, the county has about 724,893 households, at an average of 3.2 people per household.
What are the major cities?
Riverside has 28 cities with the city of Riverside serving as the county seat. The 27 other significant cities are Banning, Beaumont, Blythe, Calimesa, Canyon Lake, Cathedral City, Coachella, Corona, Desert Hot Springs, Eastvale, Helmet, Indian Wells, Indio, Jurupa Valley, Lake Elsinore, La Quinta, Menifee, Moreno Valley, Murrieta, Norco, Palm Desert, Palm Springs, Perris, Rancho Mirage, San Jacinto, Temecula, and Wildomar.
About Riverside County
Riverside County, California offers a wide range of lifestyle choices for residents, from the rolling hills of Temecula to the palm tree-lined streets of the Coachella Valley. It’s located inland from the coastal community of Los Angeles and has a population of 2,189,641.
The city of Riverside, the largest city in Riverside County, has a broad range of unique neighborhoods, from historic neighborhoods to neighborhoods with brand-new housing tracts and just about everything in between. There are excellent schools, community facilities, and shopping throughout Riverside.
Riverside County is home to Joshua Tree National park, which offers families both desert and mountain terrain for a variety of outdoor activities including camping, hiking, rock climbing, mountain biking, and more.
The County is home to the famous resort cities of Palm Springs, Palm Desert, Indian Wells, La Quinta, Rancho Mirage, and Desert Hot Springs – all located in the Coachella Valley region of the County. Other cities in Riverside include Blythe, Corona, Hemet, Norco, Temecula, Moreno Valley, Lake Elsinore, and Wildomar.
Many people move to Riverside County over Los Angeles County due to the cost of homes. Although home prices in Riverside County have been rising steadily, it is still more affordable on average than nearby San Diego and Los Angeles. This makes Riverside County an attractive community for families looking to move to the Southern California area.
One of the more distinctive cities in Riverside County is Palm Springs, which at one time was home to the movie stars of the ’30s and ’40s. Today, it’s a vibrant community in the desert with tourism as one of its core industries. Families in Palm Springs enjoy over 300 days of sunshine each year. Despite the high desert temperatures enjoy golf, swimming, tennis, and horseback riding, biking, and hiking in the nearby desert and mountain areas.
At one time Riverside was an agricultural community, but today government, education, manufacturing, and retail drive the economy. In addition, technology has become a major focus of the County, with software and data information companies now dotting the landscape. Currently, the largest employer in Riverside County is the University of California, Riverside.
The county is currently home to 122,308 veterans.
- Military Bases
- March Joint Air Reserve Base – Riverside, California
- Riverside County is home to eleven VFW post:
- Post 10267 Jurupa Post – 8607 Mission Blvd. Jurupa Valley, California 92509.
- Post 184 Ysmael R. Villegas Memorial Casa Blanca Post – 3091 Esperanza Street, Riverside, California 92504.
- Post 9223 Arlington Post – 10303 Arlington Ave. Riverside, California 92505.
- Post 8547 Alessandro Post – 22616 Alessandro Blvd. Moreno Valley, California 92553.
- Post 888 Perris Valley Post – 623 South “D” Street, Perris, California 92570.
- Post 233 Desert Edge Post – 450 East 4th Street, Beaumont, California 92223.
- Post 1956 Menifee Post – 28237 La Piedra Road, Menifee, California 92584.
- Post-1508 Richard Elliott Post – 21180 Waite Street, Wildomar, California 92595.
- Post-2266 Harbour-Record Post – 1891 South Santa Fe Avenue, San Jacinto, California 92583.
- Post 4379 Winchester Valley Post – 28780 Whitter Ave. Winchester, California 92596.
- Post 4089 Temecula Valley Post – 28075 Diaz Road, Temecula, California 92590.
- VA Medical Centers in the county:
- Corona VA Clinic – 2045 Compton Avenue, Building 7, Suite 101, Corona, California 92881.
- Corona Vet Center – 800 Magnolia Avenue, Suite 110, Corona, California 92879.
- Palm Desert VA Clinic – 990 Cook Street, Building F, Suite 1004, Palm Desert, California 92211.
- Temecula Vet Center – 40935 County Center Drive, Suite A/B, Temecula, California 92591.
- County Veteran Assistance Information
- Riverside County Veterans Service Office – 4360 Orange Street, Riverside, California 92501.
Apply VA Home Loan
- For more information about VA Home Loans and how to apply, click here.
- If you meet the VA’s eligibility requirements, you will be able to enjoy some of the best government guaranteed home loans available.
- VA loans can finance the construction of a property. However, the property must be owned and prepared for construction as the VA cannot ensure vacant land loans.