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VA Loan Limits Rise in 2019

by So Cal VA Homes
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VA loan limits have changed as of January 1, 2019. They have increased from previous years, and this is good news! Loan limits matter when thinking about affordability and how much house you can get for your money. Since loan limits have increased from $453,100 to $484,350, Veterans now have 6.9% more to work with wherever they decide to purchase a house. But this is even better news if you plan to buy in San Diego. Why? Because San Diego is considered a “high-cost county” based on the higher-than-average cost of homes when compared to other places within the United States. Without the higher VA loan limit, Veterans who decide to live in San Diego County would have a  smaller selection of homes to choose from when financing with no down payment. More than likely, without the increased “high balance” VA loan limits, the available homes at the lower prices would not be the most desirable in quality or meet square footage needs to accommodate families. It only makes sense that the maximum loan amount in a place like San Diego should be higher than in other counties across the country. How much of a difference do the new limits make? You’re now looking at a maximum VA home loan limit of $690,000 in San Diego. This opens up so many options, especially since the median cost for a home in this county is currently around $575,000.

Let’s look at the big picture and see how the VA loan limits for 2019 fit in. As it is, VA loans make your real estate purchase very affordable because the program allows Veterans to qualify for mortgage amounts greater than a traditional loan. The VA loan program allows Veterans to make their own financial arrangements with mortgage lenders, and then the Veterans Administration guarantees those loans. You served the country, now the government has your back. The other plus? VA loans don’t require a down payment. What’s even better? The new loan limit of $690,000 in San Diego can buy a lot of house for your money!

Living in America’s Finest City

Well, great! We’ve covered how it is that you can afford to purchase a home in San Diego using a VA loan. What are the benefits of choosing to live in San Diego County?

San Diego County is an incredible place for Veterans and active service members to live. There isn’t another area in the country more welcoming and accommodating for current military and Veterans. Sixteen important naval and military sites are located in the county, making San Diego home to the largest concentration of active military service members by population, close to 100,000 military personnel. According to the 2018 Regional Jobs Strategy Dashboard of the San Diego Chamber of Commerce, the city has a higher percentage of Veterans in the workforce than any other major metro area in the United States.

There are some really incredible benefits of moving to San Diego County. The quality of life is practically unbeatable. You can’t miss the 70 miles of coastline, a more than comfortable climate and many attractions for young and growing families. There are year-round activities for everyone. Balboa Park boasts of arts and culture, and the food scene will satisfy those looking for authentic local cuisines as well as more eclectic foodies. Do you like beer? San Diego County leads the craft beer industry, boasting more than 165 micro-breweries! Check out the San Diego Brewers Guild for your favorites. The list of outdoor activities is almost endless, from golfing to hiking and watersports. The desert and mountains are within driving distance for those looking for outdoor adventures. If you’re looking to further your education, San Diego is home to numerous highly-acclaimed colleges and universities. In fact, Veterans living in the county currently achieve higher education degrees at rates comparable to non-Veterans. It’s no wonder that San Diego continues to rank so high in polls for overall well-being and excellent quality of life.

SoCal VA Homes is Here to Help You

Unfortunately, there is no guarantee that using your VA loan to buy a house will be a smooth process. In fact, odds are that you will come up against challenges. We are more than aware of biases sellers have against buyers using VA loans versus traditional loans. These biases are why SoCal VA Homes exists! We are here to help you overcome any hurdles during the home purchasing process.

We developed programs, like our flagship Dreamweaver Home Purchase Process, for this very reason. This program’s 3-step plan involves navigating the pre-approval process, outlining our trade secrets for you, and finding your new home.

The VA Construction Financing Program is our second approach to helping you purchase your home. It involves helping you use your VA loan benefit to buy land and build your house.

Our third approach is the Veteran’s Angel Program, a tactical “triple threat” to give you a strategic advantage in the home buying process. We assist you in working with a real estate agent and connecting on a personal level with sellers.

Why even wait to search for your new home? Check out listings for San Diego County!

You can afford more than you think! Use our VA loan limit calculator and see the numbers for yourself. Your best life in your new home is right around the corner. Contact SoCal VA Homes for more information! Call (949) 268-7742 or email hello@socalvahomes.org.

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