Placer County, California VA Loan Information

Table of Contents

FAQ

What is the VA Loan Limit?

2021 VA Home Loan Limit: $0 down up to $5,000,000* (Subject to lender limits) /2 open VA loans at one time $598,000* (Call 888-573-4496 for details).

How to Apply for a VA Home Loan?

This is a quick look at how to apply for a VA home loan in Placer County. For a more detailed overview of the VA home loan process, check out our complete guide on how to apply for a VA home loan. Here, we’ll go over the general steps to getting a VA home loan and point out some things to pay attention to in Placer County. If you have any questions, you can call us at VA HLC and we’ll help you get started.

  1. Get your Certificate of Eligibility (COE)
    • Give us a call at (877) 432-5626 and we’ll get your COE for you.
  2. Are you applying for a refinance loan? Check out our complete guide to VA Refinancing.
  3. Get pre-approved, to get pre-approved for a loan, you’ll need:
    • Previous two years of W2s
    • Most recent 30 days paystubs or LES (active duty)
    • Most recent 60 days bank statements
    • Landlord and HR/Payroll Department contact info
  4. Find a home
    • We can help you check whether the home is in one of the Placer County flood zones
  5. Get the necessary inspections
    • Termite inspection: required
    • Well or septic inspections needed, if applicable
  6. Get the home appraised
    • We can help you find a VA-Certified appraiser in Placer County and schedule the process
    • Construction loan note: Construction permit/appraisal info
      1. Building permit
      2. Elevation certificate
  7. Lock-in your interest rates
    • Wait until the appraisal to lock-in your loan rates. If it turns out you need to make repairs, it can push your closing back. Then you can get stuck paying rate extension fees.
  8. Close the deal and get packing!
    • You’re ready to go.

What is the Median Home Price?

As of March 31st, 2020, the median home value for Placer County is $529,595. In addition, the median household income for residents of the county is $84,357 which is higher than the national average.

How much are the VA Appraisal Fees?

  • Single-Family: $600.
  • Individual Condo: $600.
  • Manufactured Homes: $600.
  • 2-4 Unit Multi-Family: $850.
  • Appraisal Turnaround Times: 7 days.

Do I need Flood Insurance?

  • The VA requires properties are required to have flood insurance if they are in a Special Flood Hazard Area.
  • In Placer county, there flood hazard areas around Dry Creek. in addition, there are small flood hazards immediately around the many creeks around the county. Moreover, other flood areas are next to Folsom Lake, and Lake Tahoe, although they are small and away from populated areas.

How do I learn about Property Taxes?

  • Kristen Spears is the Placer county tax assessor. Her office can be reached at 2980 Richardson Drive, Auburn, California 95603. In addition, her office can also be reached by calling (530) 889-4300
  • The state of California offers incentive programs that expand statewide for new, growing, and relocating businesses. Two of these programs are the California Competes Tax Credit which offers qualifying businesses with a tax credit, and the New employment Credit which offers a tax credit for taxpayers who hire full-time employees. Furthermore, the state offers several other incentives.

What is the Population?

  • The county’s population of 398,329 is 72% White, 14% Hispanic, and 4% mixed race.
  • Most county residents are between 18 and 65 years old, with 22% under 18 years old and 19% older than 65.
  • In total, the county has about 140,661 households, at an average of two people per household.

What are the major cities?

The county has five cities and one town, including the city of Auburn which serves as the county seat. Four other cities in the county are Colfax, Lincoln, Rocklin, and Roseville. In addition, the town of Loomis is also within the county.

About Placer County

Placer County, California is home to rich tourism and recreation industries. However, the biggest employment industries are healthcare, retail trade, and public administration. Therefore, the most common types of employment in the county are in the management, sales, and administrative support sectors.

The county is also host to several business development programs that are meant to enable the founding and growth of businesses in the county. For example, the Sierra Small Business Development Center provides no-cost webinars, capital access, and specialty programs to help grow the local economy.

When it comes to education, there are twelve school districts that provide education for students ranging from kindergarten to 12th grade of High School. In addition, higher education opportunities are provided by Sierra College, which offers two-year degrees, and William Jessup University, a private institution that offers four-year degrees and above.

Finally, the natural beauty and plethora of fun outside activities make the county a destination for people who enjoy the outdoors. From its multiple hiking, horseback riding, and mountain biking trails as well as its water recreational activities in gorgeous lakes like Lake Tahoe. Hence, the county sees more than a million visitors every summer and winter.  

Veteran Information

The county is currently home to26,333 veterans, and they all have access to:

  • Placer County is home to three VFW post:
    • Post 904 Placer Foothills – 5945 Horseshoe Bar Road Loomis, CA 95650. 
    • Post 3010 Glen Edwards – 541 5th Street Lincoln, CA 95648.
    • Post-2003 Jess E. Taylor – 22 Sunset Circle Colfax, CA 95713.
  • VA Medical Centers in the county:
    • Sierra Foothills Outpatient Clinic – 11985 Heritage Oak Pl, Auburn, CA 95603.
  • County Veteran Assistance Information
    • Placer County Veteran Services Office – 1000 Sunset Boulevard, Suite 115, Rocklin, CA 95765.

Apply for a VA Home Loan

  • For more information about VA Home Loans and how to apply, click here.
  • If you meet the VA’s eligibility requirements, you will be able to enjoy some of the best government guaranteed home loans available.  
  • VA loans can finance the construction of a property. However, the property must be owned and prepared for construction as the VA cannot ensure vacant land loans.

VA Approved Condos

Name (ID): AUBURN BLUFFS TOWNHOMES (000098)
Address:
AUBURN & FOLSOM ROADS
AUBURN CA 95603
PLACER
Status: Accepted Without Conditions
Request Received Date: 10/24/2013
Review Completion Date: 11/30/2013		 Name (ID): KINGSWOOD VILLAGE CONDOMINIUMS (000051)
Address: 
1001 COMMONWEALTH DR
KINGS BEACH CA 96143
PLACER
Status: Accepted With Conditions
Request Received Date: 08/20/2012
Review Completion Date: 10/15/2012
Name (ID): AUBURN HIGHLANDS (000341)
Address: 
PO BOX 6624
AUBURN CA 95604
PLACER
Status: Accepted Without Conditions
Request Received Date: 07/18/2018
Review Completion Date: 08/07/2018		 Name (ID): OAK POINTE (000243)
Address: 
758 DOROTHY WAY
AUBURN CA 95603
PLACER
Status: Accepted Without Conditions
Request Received Date: 02/13/2017
Review Completion Date: 06/14/2017
Name (ID): CAMPANIA HOA (000281)
Address: 
1001 DANTE CIRCLE
ROSEVILLE CA 95678
PLACER
Status: Accepted Without Conditions
Request Received Date: 08/20/2017
Review Completion Date: 09/05/2017		 Name (ID): PALOMA AT FOSKETT RANCH (007453)
Address: 
JOINER & LAS PALOMAS LOOP
LINCOLN CA 95648
PLACER
Status: Accepted Without Conditions
Request Received Date: 12/19/2006
Review Completion Date: 12/20/2006
Name (ID): CLUB PACIFIC CONDO’S (C00441)
Address: 
PHASES 1 – 17
ROCKLIN CA 95677-0000
PLACER
Status: Accepted Without Conditions
Request Received Date: 01/01/2000
Review Completion Date: 01/01/2000		 Name (ID): PARK PLACE -PHASE 6, 7, 8 (007086)
Address: 
937 MARVIN GARDENS WAY
ROCKLIN CA 95756
PLACER
Status: Accepted Without Conditions
Request Received Date: 10/24/2002
Review Completion Date: 01/12/2003
Name (ID): HEARTHSTONE (007386)
Address: 
ROCKLIN CA 95677
PLACER
Status: HUD Accepted
Request Received Date: 03/13/2006
Review Completion Date: 03/13/2006		 Name (ID): ROSEVILLE GREENS (C01289)
Address: 
(FHA APPROVAL #860001HAC)
ROSEVILLE CA 95678-0000
PLACER
Status: Accepted Without Conditions
Request Received Date: 08/07/1980
Review Completion Date: 08/07/1980

Oregon VA Loan Information: https://www.vahomeloancenters.org/oregon-va-home-loan-limits/

VA Loan Information by State: https://www.vahomeloancenters.org/va-loan-limit-maximum-va-loan-amount/

Source: vahomeloancenters.org