VA Home Loans

Veterans receive the best loan terms on the market: no down payment, no MI, flexible qualification standards, and a low rate.

Created in 1944 under the Servicemen’s Readjustment Act (also known as the GI Bill of Rights), the VA loan helps make housing accessible for veterans and their families. The VA streamline refinance, meanwhile, allows VA loan holders to refinance and lower their mortgage rate with minimal hassle.


The VA mortgage offers an unparalleled affordable mortgage opportunity for servicemen, veterans, and their families. Benefits of the VA loan include low interest rates, low (or no) down payment, no mortgage insurance, and a minimal financing fee.

The terms of qualification are determined by the Certificate of Eligibility issued by the VA Department. For more information, give us a call at 805.543.LOAN.

The Basics:

  • Down payment: as low as 0%
  • Credit score: as low as 550
  • Debt-to-income ratio: as high as 60%
  • Gift payments: allowed; gifts, grants, and seller concessions
  • Rate and Term: fixed and adjustable rate options
  • Ceiling: no purchase maximum, but must be “modest in size, design, and cost”
  • Occupancy: primary residence only
  • Mortgage Insurance: yes, upfront funding fee; no monthly fees

*Note: Spouses of deceased veterans are eligible for VA financing in certain situations. Click here to learn more.*

The VA-backed streamline refinance product, called the Interest Rate Reduction Refinancing Loan (IRRRL), allows vets to drop their VA mortgage rate WITHOUT a new appraisal, WITHOUT asset documentation, and WITHOUT income requirements.

Eligibility is simple and to the point:

  • Current: must be current on your mortgage; no more than one 30-day late payment in the past year
  • Lower rate: refinance must reduce rate (ARM –> fixed always eligible)
  • No cash-out: only covers existing loan balance
  • Previously occupied: property must be previously occupied by mortgage holder
  • VA loan eligibility: VA loan allowance must have been used on property of intended refinance

Click here for more information.

Loan Requirements

  • Credit: Minimum 530 FICO & including No Score
  • Loan Term: Fixed Rate Mortgage (FRM): 10 – 30 year terms
  • Max LTV: 100% LTV plus VA funding fee
  • Occupancy: Owner Occupied Only
  • Property Eligibility:
    • New Construction: 1 Unit Residential Property, Condominiums, Manufactured (double-wide or larger), and Modular Homes.
    • Condominium: Project must be accepted/approved by VA.
    • Manufactured Homes (off-frame only): Must meet all MPR-related requirements for proposed or under construction as per VA guides. Manufactured homes can be new or used, however Manufactured homes to be moved to purchaser’s lot to be affixed to permanent foundation require additional inspections.
    • Loan may include simultaneous purchase of the land/lot or loan can be guaranteed for the construction of home on land/lot already owned by veteran. (Read More)
  • Foreclosure: 2 years from completion date
  • Short Sale: 2 years from completion date
  • Bankruptcy (Chapter 7): 2 years from date bankruptcy was completed
  • Bankruptcy (Chapter 13): 1 year payout has elapsed & payment performance is satisfactory & BK approval; 2 years from date bankruptcy was completed
  • Deed-in-Lieu: 2 years from completion date

The GSFA Platinum down payment assistance program was created to help low to moderate income homebuyers in the state of California purchase a home by providing down payment and/or closing cost assistance in the form of a non-repayable grant.

The Program Income Limit for FHA, VA, and USDA first mortgages

Program Limit - Copy

Click here to read more

  • Low down payment loan programs. (Read more).
  • Gift giving guidelines. (Read more).
  • Mortgage insurance guidelines. (Read more).
  • Credit qualification standards: FICO and Debt-to-Income. (Read more).

Apply Now

Submit your loan application today! Track status and make modifications on-the-go. Easy, fast, and secure.

About the Loan Programs

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From our Clients:

“Good explanation of process and forms. Always kept up-to-date during the loan processing.”
Anthony and Kathleen Toscano, Morro Bay
“Communication through telephone and emails was excellent with updates…”
R. David and Helen Cantu, Atascadero
“The speed and ease of communication… always flexible to accommodate our schedule.”
Berkeley and Meghan Lindt, San Luis Obispo
“Our transaction was complex due to various family entities. It was difficult but successful. Great job!”
Donald and Elisa Cameron, Cambria
“This was a painless process and you succeeded where conventional banks failed me.”
Susan Manbeian, Cambria


We will close your home loan on time, on budget, with no surprises. Find out why we call ourselves “The Mortgage Experts.” About CCL
As a banker and a broker, we have uniquely positioned ourselves to custom fit a loan for every client. We succeed where others do not. Apply Today
As  a mortgage banker, we keep your loan right here in California. Our offices are conveniently located to serve the Central Coast. Office Locations
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Central Coast Lending Reach

We offer home loans / mortgages to the Central Coast and the entire state of California, including:

San Luis Obispo County:

Arroyo Grande, Atascadero, Avila Beach, Cambria, Cayucos, Creston, Grover Beach, Los Osos, Morro Bay, Nipomo, Oceano, Paso Robles, Pismo Beach, San Luis Obispo, San Miguel, San Simeon, Santa Margarita, Shandon, Templeton, and surrounding cities.

Santa Barbara County:

Buellton, Carpinteria, Goleta, Guadalupe, Hollister Ranch, Isla Vista, Lompoc, Los Alamos, Los Olivos, Mission Hills, Montecito, Orcutt, Santa Barbara, Santa Maria, Santa Ynez, Solvang, Cayuma, Vandenberg Village, Garey, Summerland,  and surrounding cities.

Kern County:

Bakersfield, Delano, Arvin, California City, McFarland, Ridgecrest, Maricopa, Taft, Oildale, Lamont, Rosamond, Rosedale, Greenfield, Shafter Lost Hills, Wasco, Bear Valley Springs, Boron, Frazier Park, Wofford Heights, Weedpatch, and surrounding cities.

Monterey County:

Carmel, Del Rey Oaks, Gonzales, Greenfield, King City, Marina, Monterey, Pacific Grove, Salinas, Sand City, Seaside, Soledad, Bradley, Castroville, Chualar, Las Lomas, Lockwood, Moss Landing, Elkhorn, San Ardo, San Lucas, Prunedale, Pajaro, and surrounding cities.

Real Estate Reports

Our quarterly reports on the Central Coast real estate market feature data on sales, pricing, foreclosures, and more.