Your VA Benefits limit your purchase loan size depending on your county. If you are not currently receiving disability payments from the VA, a “Funding Fee” is included in the loan amount. If you have been awarded disability, you are exempt from this fee.
Inclusive of this fee to the VA, loan limits in 2017 are as high as $636,150 in parts of California. We perform financing throughout the state, but in the 5 Southern California counties where we typically remodel homes for our men and women, the 2017 limits are as follows:
LA County – $636,150
Orange County CA = $636,150
Riverside County = $424,100
San Bernardino County = $424,100
San Diego County = $612,950
The VA updates their loan limits each year based on the average cost of housing across each county.