Orange County FHA, VA & First Time Buyer Loan Information: VA Loan Limit in Orange County at $700,000 Until December 2011

My goal is to provide valuable information for home buyers, both First Time Buyers and Move Up Buyers. This information will be about loan programs such as FHA ,VA, Conventional Fannie Mae and Freddie Mac, Reverse Mortgages, and even Portfolio Jumbo programs. I will also touch on tax advantages of homeownership, Rent vs. Own analysis, and any other aspect of loans and home ownership that will be of interest to Orange County home buyers and homeowners.

VA Loan Limit in Orange County at $700,000 Until December 2011

The VA Loan Limit in Orange County will remain at $700,000 on Zero Down purchases until December 2011. This "high balance" 100% financing loan limit is good through December 31, 2011. While the FHA and Conventional (Conforming) loan limits are going lower at the end of September 2011, the VA limits will remain intact for three more months. But if the lower FHA and Conventional limits are any indication, Veterans considering taking advantage of the high limit should get serious about it now!

Maximum VA Loan Limit for Orange County

VA does not actually have a maximum loan limit. However, most lenders will not lend more than $1,500,000 on a VA loan. VA does guaranty 25% of the loan amount, up to a $700,000 purchase price in Orange County. If a buyer wants to purchase a property at a value greater than the 100% limit, then a down payment equal to 25% of the difference between the 100% limit and the purchase price is required. This would be considered a "Jumbo VA Loan".

Example of Jumbo VA Loan

As an example of a Jumbo VA loan, let say Chris Lynch, a Veteran of Desert Storm, wants to purchase a home in Irvine for $800,000. Since this is $100,000 greater than tha $700,000 100% financing limit, Chris would need a down payment of $25,000. The VA loan (not including the financed Funding Fee) would be $775,000. Where else can someone purchase a property for $800,000 with a little more than 3% down payment.

PreApproval is Important Prior to the Home Search

Before getting too deep into the home search, the Veteran should contact a VA Lender who can provide customized VA loan scenarios, which will provide information on the price the Veteran will qualify for, as well as detailed information on the payment and amount needed to close escrow. The VA loan officer can also retrieve the Certificate of Eligibility, as well as provide an underwritten VA Loan PreApproval. Most home sellers will not accept an offer without a PreApproval letter from a direct lender. The PreApproval process only takes a few days, depending on the complexity of the Veterans documentation. The last three months will go by quickly. There is no telling what will happen with the Orange County VA loan 100% financing limit in 2012, so now is the time act for those Veterans looking at high end properties.

Authored by Tim Storm, an Orange County, CA Jumbo Mortgage Loan Officer MLO 223456– Please contact my office at Home Point Financial for more information about an Orange County, CA Jumbo Mortgage. 949-829-1846.

Contact us for your Orange County Jumbo Mortgage:

949-829-1846 | tstorm (at)

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Comment balloon 2 commentsTim Storm • September 12 2011 02:58PM


It's good to know that The VA Loan Limit in Orange County CA will remain at $700,000 on Zero Down purchases until December of this year 2011.  Thanks for sharing this.

Posted by Harrison K. Long, REALTOR , GRI, Broker associate, Attorney (HomeSmart, Evergreen Realty) over 7 years ago

More good news from VA. The Funding Fee will be going lower as of October 1, 2011. The VA program is looking better and better.

Posted by Tim Storm, Orange County FHA and VA Home Loan Specialist (Fairway Independent Mortgage Corporation) over 7 years ago