All Forum Posts by: Jason Avila

@Brian Garlington

I am in California. I just purchased in Paso Robles, CA and came down on assignment to Sacramento, CA. So the county I just bought in had a max of 667k, but Sac county is lower at 552k. I bank with Navy Fed so ill have to ask them about that. But I’ve never heard of the CalVet. I’ll have to look into it. I really appreciate the info. Thank you.

@Travis DeForge

I appreciate the response. I spoke to a guy at the VA to answer a few other question (myths) about the VA loan and every explanation I get about multiple VA loans is what every the entitlement doesn't cover would have to be made up with a conventional loan. But I've never heard of it actually being done. So I figured I'd try. I have a broker looking into it but I had to be the one pushing the idea. So I wanted to see if the community had ever tried it or even heard of it being possible.

Trying to maximize my VA benefits by utilizing the remaining entitlement. It isn't enough to cover the entire loan amount but I was told it is possible to cover the rest with a conventional loan as long as I brought 20% of the amount being financed conventionally.

example- have used 418k of the 552k entitlement. Have 134k in VA entitlement remaining. Looking to purchase a property for 284k. Would like to finance this 134k VA, 150k conventional.

Is this possible? Has anyone ever attempted this?

@Chris Mason

I just purchased our residence on a VA loan. I got it with a little equity in it, about 30k. Doing some upgrades to increase that number a little. Anyway, I bought in Jan and just came down on Orders to move. We used 418k of the 667k entitlement in San Luis Obispo county and we're moving to Sacramento county. I'm calculating the renaming entitlement two ways but don't know which is right. One is a percentage, 63% of 667k used leaving 204k (37% of 552k). Or 134k remaining with 418k from the new location max of 552k. My questions are, are either of those calculation correct and how soon can I refinance this Va loan to a conventional to free up my entitlement? I appreciate your time and look forward to your response. Thank you.

I’m not exactly sure how soon we’ll be back up there. We just went last weekend. I’ll check our events and see if we have a good excuse to make that trip soon. Once I have a ln idea I’ll shoot you a message to see if it lines up with one of your trips. If we don’t have a reason anytime soon I’ll head up there for a weekend you’re there so we can meet up. I grew up there as well, in Oak Park and graduated from Sac high in 2000. And my kids are currently up there so we go up for all their events. Good to meet you and hope to meet up soon. 

Drew,

I'm preparing for a move to Sacramento and was looking to get into a multifamily. Not an agent so the only resources I have are sites like trulia and Zillow. I have found a duplex in the south oak park area that I'm interested in but I just purchased my second home in Paso Robles CA this Jan on a VA loan. I'd be interested to hear what you have planned. Or are looking i get into.