VA Loans FAQ’s

VA Loans FAQ’s


VA Loans FAQ’s

-Do I need to request my VA Certificate of Eligibility before the initial Pre-approval appointment? The answer is no. We can pull up your certificate of eligibility internally thru the VA Portal. In some instances, the VA may require a manual request for the certificate of eligibility.

-How many times can I use my VA loan benefit? Your home loan benefit can be used as many times as you’d like however, since VA loans are only for owner occupied residences, you can only use one at a time. **Under certain instances, loan eligibility can be used simultaneously with another when the Veteran relocates due to a change in duty station if moved outside of a reasonable commuting distance**

-Can the Funding Fee be waived? The answer is yes, as long as the Veteran has more than 10% disability.

-How much is the Funding Fee? The first time use for active duty and for those who have been discharged/retired from active duty is 2.30% then, each subsequent use is 3.6% . For reservists, the first-time use is 2.4% then 3.30% for each subsequent use. Funding fee is financed over the term of the loan and is reduced if the Veteran contributes a minimum of 5% down.

-Is the VA loan interest rate lower than Conventional Loans? The answer is yes, VA loan rates are roughly .25% lower than Conventional financing and, in some cases, even lower.

-Do VA loans require PMI if I were to put less than 20% down? VA loans do not have any private mortgage insurance regardless of whether you put zero down or 10% down.

-Can anyone other than my spouse be on the VA loan? The only ones who are eligible to be on a VA loan are the spouse with the Veteran or a surviving spouse of a Veteran under certain circumstances or two Veterans can purchase together by splitting their entitlement.

-What are the VA county loan limits with $0 down? There are no longer any county loan limits as of a couple years back. As long as qualified, a veteran can purchase a home as expensive as they’d like without any money down.

Getting started is easy. We offer very competitive rates, have great service, and always close on time.

Best Mortgage companies in Chula Vista

Best Mortgage companies in Chula Vista


Andre Enriques
License # NMLS 220937
DRE # 01713544

Contact Us

Andre Enriques Mortgage Banker - VA Loan Expert, a dba of Anchor Funding Inc

Chula Vista Office
Phone: (619) 323-2066
Cell (619) 208-6499
891 Kuhn Drive, Suite #204
Chula Vista, CA 91914

San Diego Office
Phone: (619) 208-6499
6336 Greenwich Dr, Suite A
San Diego, CA 92122

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Equal Housing Lender

NOT ALL APPLICANTS QUALIFY. First Priority Home Loans is a DBA of Anchor Funding, Inc. is licensed by The
California Bureau of Real Estate #01276087. FHA Non-supervised lender #00257-0000-5
NMLS #1626581 & #236419
NMLS Consumer Access
Loans made or arranged pursuant to the California Department of Financial Protection and Innovation
California Finance Lenders Law license number 603 L293