Veterans Administration Loans (VA Loans)

Veterans Administration (VA)

Veterans Administration loans were created to help veterans finance the purchase of their homes with favorable loan terms. For the purpose of the VA program, “veteran” includes active duty service personnel and certain categories of spouses. Like FHA loans, the federal government insures VA loans, or guarantees VA approved lending institutions against loss from default on qualifying loans. To receive an approximation of what your loan may be, use our VA loan calculator by clicking on Calculate Your Payment below.

 *The calculator does not include the VA funding fee, which varies depending upon a number of factors. To find out your funding fee, contact us to talk to a mortgage specialist.  

Programs and Features:

  • Fixed Rate Loans and Temporary Buy-downs
  • Available for detached 1-unit dwellings, eligible condos and PUD's
  • Properties must meet VA guidelines and be inspected by VA-approved appraisers
  • Subject to loan limit set by VA, currently $240,000
  • One time mortgage insurance fee of 2% is typically charged, which may be financed if the total loan amount does not exceed $240,000
  • No prepayment penalty
  • No reserve requirements at closing
  • No down payment required
  • Out-of-pocket expenses may be gifted, typically from relatives
  • Only eligible veterans and their spouses occupying the subject property may be co-borrowers or co-signers
  • Seller may contribute a maximum of 6% of the lower of the sales price or the appraised value


Contact one of our specialists to start building a plan for your future.

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  • As a first time homebuyer I had a lot of questions about the loan proccess. I was so surprised at how easy First Cal made the whole process feel and how quickly they got all of our documents submitted so that we could get into our new home

    - Kathleen

  • Heather

    Thank you so much for going above and beyond to help us close on our first home. We truly appreciate all the efficient communication and taking the extra time in answering all of our questions. The house is just perfect and we couldn't have done it without all of you.

    - Heather and Stephen Chiaro

  • Being a first time home buyer I had a ton of questions and wanted to close the best loan I could. First Cal helped me every step of the way by providing a loan officer that answered every question and held my hand through the process. They closed my loan in less than 30 days and got me the best rate of any company out there.

    - Heather

  • Kristin

    They did an excellent job on my refinance. Glad to know there's integrity out there

    - Kristin McCutcheon