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Ask Rudy: San Diego VA Loan Questions, Answered
24 real questions about VA loans in San Diego, answered in plain English, with a link back to the full guide behind each one.
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About Rudy · VA Loan Options
Do I need Rudy for a VA streamline refinance (IRRRL)?
An IRRRL is mostly between you and your lender. It replaces a VA-backed loan you already have with a new one, and you must be able to certify that you live in the home now or did before. With no purchase contract to write, Rudy’s role is small. He can help if you’re weighing a refinance against a sale.
From Rudy Flores Handles the Contract While Your Lender Handles the Loan
Can a VA cash-out refinance replace a loan that isn’t VA?
Yes, the VA says it can. A cash-out refinance can move a non-VA loan into a VA-backed one, or let you take cash out of your equity. You must qualify for a COE, meet the VA’s and your lender’s standards, and live in the home. Your lender decides if you qualify.
From Rudy Flores Handles the Contract While Your Lender Handles the Loan
Does Rudy pick my rate or loan program?
No. Rates, programs and approvals come from lenders, and you’re free to choose any lender you like. Quotes from two lenders on the same day are easier to compare, and Rudy can help you write down your questions. VA Loans San Diego is independent and isn’t affiliated with the VA.
From Rudy Flores Handles the Contract While Your Lender Handles the Loan
Home Tools
How does my VA loan show up in the results?
The sale columns subtract what you owe, so each one shows cash after the payoff. Your lender’s payoff statement has the exact figure. The rent column counts your loan payment each year the loan lasts, and the keep column shows the home’s future value minus what you’d still owe then.
From Compare My Selling Options
What counts as a holding cost?
Think of it as the price of owning the home while you wait to close. Each month adds your loan interest along with property tax, insurance and HOA dues. A longer timeline means more months, so try a few lengths.
From Compare My Selling Options
Does the keep column assume my home will gain value?
It uses the yearly growth rate in the box, and that rate is your own guess, not a forecast. Try several, including 0%, and watch how the equity figure moves. That equity is the home’s value at the end of the period minus the loan balance left.
From Compare My Selling Options
What does an office-only listing mean for my sale?
It’s a listing kept inside one brokerage. NAR’s rules still put it on file with the MLS, yet other firms’ agents can’t view it and it gets no public advertising. Once it’s marketed publicly, the one-business-day rule kicks in and it must be entered in the MLS. You sign a disclosure before it starts.
From Compare My Selling Options
Do the rent and keep results include income tax?
No. Property tax is part of the rent column’s monthly costs, but income tax, depreciation and any earnings your cash might have made aren’t counted, and neither is tax on a gain from a sale. The federal exclusion lets you leave out up to $250,000 of home-sale gain, or $500,000 for married couples on a joint return. As a rule, you need 2 or more years of ownership and 2 or more years living there, all within the 5-year period before the sale. A CPA can apply it to your dates, especially if you rent first.
The VA Loan Guide
Do I need a down payment for a VA loan?
Most veterans with full entitlement can finance 100% of the purchase price with no down payment. A down payment can still lower your funding fee or your monthly payment, and it may be required if you're using remaining (not full) entitlement on a higher-priced home.
From The VA Loan Guide for San Diego Buyers
Do VA loans require mortgage insurance?
No. VA loans don't carry monthly private mortgage insurance (PMI). Instead, most borrowers pay a one-time VA funding fee, which can be financed into the loan. Ask your lender whether you qualify for a funding fee exemption.
From The VA Loan Guide for San Diego Buyers
Can I use my VA loan benefit more than once?
Yes. The benefit isn't a one-time use. Many veterans use it again after selling a prior VA-financed home and restoring their entitlement, and some can use remaining entitlement to buy again without selling first, if enough entitlement is left to cover the new loan.
From The VA Loan Guide for San Diego Buyers
Is there a maximum VA loan amount in San Diego?
For most veterans with full entitlement, the VA itself no longer caps the loan amount. Lenders still evaluate the loan based on your income, credit and the appraisal, and a down payment may come into play if you have reduced entitlement from a VA loan you're still carrying. Ask your lender how your specific entitlement applies.
VA Loan FAQ
Who can get a VA home loan?
The VA lists service members, veterans, National Guard and Reserve members, and some surviving spouses. Someone on active duty generally needs at least 90 continuous days of service. A veteran who served on or after August 2, 1990 generally needs 24 continuous months, or the full period called to duty if it was at least 90 days. Guard and Reserve members can qualify through 90 days of qualifying active duty, or 6 creditable years plus continued service, an honorable discharge or retirement.
From VA Loan Questions for San Diego County Buyers
What is a Certificate of Eligibility, and how do I get one?
The Certificate of Eligibility, or COE, confirms for your lender that you qualify for the VA home loan benefit, and it shows your entitlement. You can ask for one online, have a lender pull it through the VA’s Web LGY portal, or mail in VA Form 26-1880, which the VA says may take longer. Veterans usually provide a DD214, and active-duty members may need a statement of service signed by a commander, adjutant or personnel officer.
From VA Loan Questions for San Diego County Buyers
What kinds of homes can a VA purchase loan buy?
The VA lists homes with up to 4 units, condos in a VA-approved project, manufactured homes and lots, new construction, and buying a home to improve it. You have to plan to live in the home yourself, since a VA purchase loan doesn’t cover a rental or vacation property. If a condo catches your eye, ask your lender to check the project’s VA approval before you write an offer.
From VA Loan Questions for San Diego County Buyers
How much is the VA funding fee on a purchase?
It’s a one-time charge figured as a percentage of the loan. In the table on VA.gov, last updated October 5, 2026, a first-time user pays 2.15% with less than 5% down, 1.5% with 5% or more down, and 1.25% with 10% or more down. After the first use, the fee for less than 5% down rises to 3.3%, while the other two tiers stay the same. You can add the fee to the loan or pay it at closing.
From VA Loan Questions for San Diego County Buyers
Who doesn’t pay the funding fee?
You don’t pay the fee if you get VA compensation for a service-connected disability, or if you’re eligible for that compensation but draw retirement or active-duty pay instead. The list also covers a surviving spouse on Dependency and Indemnity Compensation, a service member whose proposed or memorandum rating on a pre-discharge claim comes before closing, and an active-duty member who shows a Purple Heart by closing day. If the VA later awards compensation with an effective date before your closing, you may qualify for a refund.
From VA Loan Questions for San Diego County Buyers
What is entitlement, and what if only part of it is left?
Entitlement is the amount the VA would pay your lender if the loan weren’t repaid. The basic amount covers loans of $144,000 or less, and above that the VA backs up to 25% of the loan. If some entitlement is still in use, the VA works out what remains from 25% of the county’s one-unit limit, minus what you’ve used. Most lenders want entitlement, a down payment or both to cover at least 25% of the loan.
From VA Loan Questions for San Diego County Buyers
Can the seller help with my closing costs?
Yes. The VA lets sellers or builders credit some or all of a buyer’s closing costs, and it doesn’t cap those credits. It does cap seller concessions at 4% of the home’s reasonable value, the number shown on your VA Notice of Value. Concessions include things like paying your funding fee or prepaying hazard insurance.
From VA Loan Questions for San Diego County Buyers
What does the VA appraisal check?
A VA-approved appraiser gives an opinion of value and compares the home with the VA’s Minimum Property Requirements, found in chapter 12 of the VA Lenders Handbook. The results come back in a Notice of Value that lists any repair items. Those items have to be finished before closing, and the appraisal doesn’t replace your own home inspection.
From VA Loan Questions for San Diego County Buyers
What if the appraisal comes in below the price?
The VA’s escape clause lets you cancel without losing your earnest money if the price is above the VA’s reasonable value, or you can go ahead anyway. You can also ask for a Reconsideration of Value with recent sales data, renegotiate with the seller, or bring cash for the difference. Before you offer, Rudy can go over recent sales of similar homes with you.
From VA Loan Questions for San Diego County Buyers
How does a VA streamline refinance (IRRRL) work?
An IRRRL refinances a VA-backed loan you already have, and you must be able to certify that you live in the home now or did before. The VA describes it as a way to get a lower interest rate or to move from an adjustable or variable rate to a fixed one. The funding fee on an IRRRL is 0.5%, and the site’s Refinance Break-Even Calculator shows how long the monthly savings take to earn back the costs.
From VA Loan Questions for San Diego County Buyers
What about a VA cash-out refinance?
A cash-out refinance takes cash from your home’s equity for needs like paying off debt, paying for school or making home improvements. It can also move a non-VA loan into a VA-backed one. You need to qualify for a COE, meet VA and lender standards for credit and income, and live in the home. The funding fee is 2.15% on a first use and 3.3% after that.
From VA Loan Questions for San Diego County Buyers
Can I take over a seller’s VA loan?
Possibly. The VA says anyone who qualifies can assume a VA loan, even a buyer who isn’t a veteran, and the loan servicer usually checks income and credit first. The funding fee on an assumption is 0.5%, unless you’re exempt. Any equity the seller has built stays with the loan, so how the seller gets paid for it is part of your negotiation.
Keep exploring
- The area guide — Start here if you are new.
- Request a home value — A personal comparison from Rudy.
- About Rudy — Twelve years in telecom real estate, then homes.
Talk to a lender. Rates, loan programs and approvals come from lenders, not from websites or real estate agents. Talk to your own mortgage broker, or use our preferred lender, Point Mortgage Corporation (NMLS #231073), at (619) 475-4095. You are always free to choose any lender you like, and you can verify any lender’s license at nmlsconsumeraccess.org.
General information for orientation, not legal, tax, financial or appraisal advice. Details change; confirm anything that matters with the official source, your lender and your agent.