Current VA guidelines, updated from one source.
One guideline source feeds every number in this block, and the block changes here when the source does. The terms shown are purchase terms; the refinance leverage, the seasoning rule, and the fee exemptions sit under the two tables.
100% financing with full entitlement
0% down is the program’s defining term: a buyer with full entitlement finances up to 100% of the lesser of price and value, the guaranty replaces the down payment, and the funding fee can be added on top of the loan rather than paid in cash.
No monthly premium, no upfront premium
No mortgage insurance, monthly or upfront, at any loan-to-value: the guaranty stands in for it. That is the single largest difference between a VA payment and an FHA or low-down-payment conventional payment on the same price.
First use; 3.3% after first use; exempt for many disabled veterans
The funding fee is a one-time charge of 2.15% on a first-use purchase with less than five percent down and 3.3% on later uses; it drops with a larger down payment, can be financed into the loan, and is waived for the exempt groups listed below.
Residual income decides the file
VA’s debt-to-income guideline is 41%, but it is a guideline, not a ceiling: a file above it can be approved when residual income exceeds the regional table by a fifth or more, and a file under it can still fall short on residual income. The table below shows the figures for the West region.
| Loan type | Use | Down payment | Fee |
|---|---|---|---|
| Purchase or construction | First use | less than 5% down | 2.15% |
| Purchase or construction | First use | 5% to 9.99% down | 1.5% |
| Purchase or construction | First use | 10% or more down | 1.25% |
| Purchase or construction | After first use | less than 5% down | 3.3% |
| Purchase or construction | After first use | 5% to 9.99% down | 1.5% |
| Purchase or construction | After first use | 10% or more down | 1.25% |
| Cash-out refinance | First use | Any | 2.15% |
| Cash-out refinance | After first use | Any | 3.3% |
| IRRRL | Any | Any | 0.5% |
| Manufactured home (not permanently affixed) | Any | Any | 1% |
| Loan assumption | Any | Any | 0.5% |
| Vendee loan | Any | Any | 2.25% |
| Family size | Residual income |
|---|---|
| 1 | $491 |
| 2 | $823 |
| 3 | $990 |
| 4 | $1,117 |
| 5 | $1,158 |
| Each additional member, up to seven | + $80 |
Exempt from the funding fee: veterans receiving VA compensation for a service-connected disability, those eligible for it but receiving retirement or active-duty pay instead, surviving spouses receiving Dependency and Indemnity Compensation, service members with a pre-discharge claim rating, and active-duty service members who have received the Purple Heart. VA sets no minimum credit score; the wholesale programs behind these pages start at a 580 decision score and serve loan amounts up to $4,000,000, including loans above the conforming limit with full entitlement.
Refinances: cash-out to 100% loan-to-value after seasoning of 210 days and six payments with a net tangible benefit; rate-reduction refinances of an existing VA loan at a 0.5% fee without a VA appraisal. Current VA snapshot · updated October 1, 2026 · owner-occupied principal residences, one to four units · no VA loan limit with full entitlement · loans are assumable · no prepayment penalty · Lendmire is not affiliated with the Department of Veterans Affairs.
Not a commitment to lend, not an offer of credit, not a quote. The figures shown are current VA program parameters and wholesale overlays that change without notice and apply only after full underwriting of the borrower, the entitlement, and the property; the wholesale credit floor and maximum loan amount are lender overlays, not VA rules. Lendmire is a mortgage broker licensed in sixteen states for consumer mortgages, never the lender, and is not affiliated with the Department of Veterans Affairs. NMLS #2371349.
What a VA loan is — and how the file is qualified.
The difference between a VA loan and any other mortgage is who shares the risk. VA stands partly behind the lender, so the lender can lend the full value with no insurance premium and read the budget on residual income. Below, the four parts a Hanford buyer needs to understand.
For the program overview, see Lendmire’s VA loan program, or the statewide guide at VA Loans in California; to request a Certificate of Eligibility, see VA.gov.
The guaranty replaces the down payment
VA backs a quarter of the loan for a borrower with full entitlement, which gives the lender the same protection a sizable down payment would. That is why a Hanford purchase can close with nothing down and no mortgage insurance, and why there is no VA loan limit when entitlement is full: the backing scales with the loan.
Eligibility, entitlement, and the COE
Eligibility comes from service: a minimum period of active duty, a qualifying period in the National Guard or Reserve, or status as an eligible surviving spouse, with a character of discharge VA accepts. VA confirms it on the Certificate of Eligibility, which a Hanford buyer can request online, through the lender, or by mail.
The funding fee, and who is exempt
The funding fee is VA’s one-time charge for the guaranty, set as a share of the loan by whether the benefit has been used before and by the down payment. A Hanford buyer can finance it into the loan or pay it at closing, and the seller can pay it as part of concessions; the ladder in the snapshot shows every tier, and veterans compensated for a service-connected disability are exempt.
Residual income over ratios
Residual income depends on where the home is and how many people live in it: the tables differ by region, and the figure rises with each family member. The snapshot shows the regional table for California, and the calculator estimates a rough residual from the income, the payment, and the debts you enter for a Hanford scenario.
A lender runs exactly this math on a Hanford file, with one refinement the page cannot make: underwriting also subtracts taxes, maintenance, and utilities before measuring residual income, so the rough residual here will read higher than the lender’s. The price, the fee tier, and the locked rate are the moving parts.
Where Hanford’s veterans and service members buy — and how VA fits.
Three Census figures frame every Hanford VA file. Ownership says how much of the market the benefit can reach, the median value says what a nothing-down loan typically comes to, and household income says how much residual income is left after that payment.
Read the figures as backdrop. These are ranges, not predictions. The lender appraises one home, documents one income, and runs the residual-income test for one household of a specific size.
Data sources: U.S. Census Bureau — ACS 5-Year (2024) housing and population estimates, including tenure, home values, gross rents, and household income.
Distinct Hanford neighborhoods, distinct VA files.
A Hanford condominium, a half-century-old family home, and a new subdivision house are three different VA files: different project approvals, different property findings, different funding fees in dollars. The six submarkets below show the range.
Condominiums and townhomes
Close-in Hanford condominiums suit the benefit well: nothing down, no insurance line, and a project review that runs through VA’s approved-project list. The dues go into the residual-income math, and the appraisal covers the project along with the unit. The median owner-occupied home value in Hanford runs near $349,400 on the latest Census estimate.
Service members and the occupancy rule
A service member buying within commuting range of an installation uses the benefit as designed: no down payment, an occupancy certification with allowances for deployment, and the option to keep the home as a rental on the next set of orders without refinancing. Median household income in Hanford sits near $76,461 on the latest Census estimate.
Higher-value homes
On Hanford’s higher-value homes the VA loan’s reach shows: with full entitlement there is no down payment above the conforming limit, up to the maximum loan amount shown in the guidelines above. The credit floor is the lender overlay, and the file is qualified on residual income. Hanford is home to about 60K people and sits within the Hanford-Corcoran, CA area.
Newer infill and recent construction
A newer Hanford home rarely produces repair findings; the file turns on entitlement and budget. Full entitlement covers the price with nothing down. With remaining entitlement, the conforming figure enters the math, and a down payment may be required. About 38% of Hanford’s households rent — roughly 7,406 renter households on the latest Census estimate.
Established close-in neighborhoods
Condition carries weight in Hanford’s established neighborhoods. The appraisal lists what VA wants fixed, the contract decides who fixes it, and the Notice of Value is issued once the value and the condition are settled. On a home at Hanford’s median value, a VA purchase with full entitlement needs no down payment at all — the funding fee on the full $349,400 is the program’s cost, and it can be financed.
Two-to-four-unit homes
The small multi-unit Hanford purchase is where VA’s leverage goes furthest: no down payment on two to four units, the buyer living in one, and the documented rent from the others helping the ratios and the residual income. Roughly 12,112 Hanford households own their homes on the latest Census estimate — 62% of all households, the pool a VA purchase joins.
Neighborhood sets the price and the property type; VA sets the rest. The guaranty, the funding fee, the ratio guideline, and the residual-income table apply identically on every Hanford file, and full entitlement carries no loan limit anywhere in the county.
Four ways Hanford veterans put the VA benefit to work.
Because VA backs part of every loan, it fits the Hanford veteran who has the income for the payment but would rather keep the savings than spend them on a down payment and insurance. Four examples follow.
Buy a condominium in an approved project
One extra step separates a Hanford condominium file from a house file: the project review against VA’s list. Once the project clears, the leverage, the fee, and the absence of mortgage insurance are exactly what they would be on a house.
Refinance an existing VA loan
An existing VA loan in Hanford can be refinanced on its own record: the IRRRL skips the appraisal and most of the documentation, carries the smallest funding fee in the program, and must leave the borrower better off under VA’s net tangible benefit rules.
Buy a first home with nothing down
The most common Hanford VA file: a veteran with steady income and full entitlement buys at the appraised value with no down payment, finances the funding fee, and pays no mortgage insurance; the seller can cover closing costs, with VA’s cap applying to concessions beyond them.
Buy a small multi-unit home and live in one unit
This is where the benefit stretches furthest: a Hanford veteran puts nothing down on two to four units, moves into one, and qualifies with the documented rent from the rest counted as VA allows, while the appraiser checks every unit against the property requirements.
Estimate the VA payment on a Hanford price before requesting a quote.
Enter a Hanford price, any down payment, and the funding fee tier, choose a term, and the calculator returns the base loan, the fee financed, the total loan, principal and interest, taxes and insurance, and, with income and family size entered, the ratio and a rough residual income against VA’s table. The rate field holds the weekly Freddie Mac benchmark as a market reference, never a VA quote.
Hanford VA payment estimate
Use the Hanford defaults as a starting point and change the price, the down payment, the fee tier, the term, and the escrows to fit.
Editable benchmark: 7.28% as of October 1, 2026 · Freddie Mac 30-year average via FRED®. A conventional market reference, not a VA loan quote.
Illustrative starting assumptions: a $350,000 price near Hanford’s median owner-occupied home value, no down payment with full entitlement, a first-use funding fee financed into the loan, a thirty-year term at the current Freddie Mac benchmark, property taxes and insurance estimated for California (U.S. Census Bureau). Every field is editable.
Illustrative estimate only — not a Loan Estimate, approval, quote, or commitment to lend. The rate field carries the weekly Freddie Mac thirty-year conventional benchmark, a market reference and not a VA loan quote; your rate is set by the lender at lock. The funding fee follows VA’s published table for the use and down payment entered; the residual-income figure is VA’s guideline for the region and family size, and the rough residual shown subtracts only the housing payment and the debts entered, while VA also deducts taxes, maintenance and utilities. Taxes, insurance and dues are editable estimates; closing costs are not included. Licensed in sixteen states for consumer mortgages. Lendmire is not affiliated with or acting on behalf of the Department of Veterans Affairs.
Same veteran, three very different closings.
The alternatives put VA’s cost in perspective: FHA charges a premium every month, conventional charges one until equity arrives, VA charges a fee once. The comparison below is written for a Hanford buyer weighing all three.
VA, FHA, or conventional.
The program’s strengths are the down payment, the insurance, and the residual-income test; its cost is the funding fee. A Hanford veteran with full entitlement usually pays less each month on VA than on FHA at the same price, and the conventional comparison turns on the down payment and the fee tier.
Where VA charges a one-time fee, FHA charges a premium every month and an upfront premium at closing. FHA fits the buyer with no entitlement or a property VA will not approve; it rarely wins for a Hanford buyer who holds a COE. See Lendmire’s FHA loan program.
Conventional is the comparison for a veteran with savings: with twenty percent down there is no mortgage insurance and no funding fee, and the payment can beat VA with a financed fee. Below that down payment, VA usually wins for a Hanford buyer. See Lendmire’s conventional loan program.
Choose by profile: eligibility with full entitlement points to VA; no eligibility and a small down payment point to FHA; a large down payment and a strong score point to conventional. A Hanford loan officer runs all three on the same numbers before recommending one.
What to prepare for a Hanford scenario review.
The paperwork is the standard mortgage set with the service record on top; here is what a Hanford scenario review typically draws on.
This is a general preparation guide, not a universal checklist. The selected lender may request additional information based on the transaction, the property, entitlement, and the income picture. Nothing here is legal or tax advice.
Local details that can change the loan.
Check these before leaning on any number for Hanford: entitlement, the funding fee tier, the appraisal and VA’s property standards, the condominium approval, residual income, and occupancy.
Use these checks to keep the Hanford file clean and fundable.
The list is short because the program is: entitlement, the fee, and the property decide most Hanford files before income is even opened.
- Confirm the entitlement: the COE states the entitlement available; full entitlement carries no loan limit.
- Know the fee: disabled veterans receiving compensation and the other exempt groups pay no fee.
- Mind the appraisal: repairs the appraiser requires are usually completed before closing.
Full or remaining entitlement
Entitlement is full on a first use, and it is restored when an earlier VA loan is paid off and the home sold; it is partial when an earlier VA loan is still outstanding or was lost to foreclosure. A Hanford buyer with full entitlement has no loan limit; with remaining entitlement, the lender may require a down payment.
The funding fee tier and the exemptions
The fee depends on whether the benefit has been used before and on the down payment, and it is waived for veterans receiving compensation for a service-connected disability, surviving spouses receiving DIC, active-duty Purple Heart recipients, and service members rated before discharge. On a Hanford file the tier is confirmed from the COE.
The VA appraisal and the Notice of Value
When the value comes in under the contract price on a Hanford file, VA’s process gives the appraiser a chance to weigh additional sales before the Notice of Value is final, and the escape clause lets the buyer walk away with the deposit if the gap cannot be closed. Repairs the appraiser requires are usually completed before closing.
Seller concessions and the fees a veteran may not pay
Two rules shape the Hanford contract: the seller may pay closing costs and, within VA’s cap, concessions such as prepaids and the funding fee; and the veteran may not be charged certain fees that other buyers pay. Structured with both in mind, a VA purchase can close with no down payment and modest cash.
Occupancy and the reasonable-time rule
Second homes and rentals are not VA purchases. A Hanford buyer who will never live in the home cannot use the benefit for it, but a service member whose spouse will occupy it during a deployment can, and a veteran may later move out and keep the home as a rental without refinancing.
From a Hanford Certificate of Eligibility to keys in hand.
Underneath, the Hanford process is any mortgage process; on top sit VA’s checks: the certificate, the property requirements, the project approval where it applies, and the residual-income test. Each step below says what happens and what the buyer does.
COE and pre-approval
A Hanford pre-approval is a sizing exercise: the certificate, the income, the family size, the funding fee tier, and the price. The loan officer confirms eligibility and entitlement against the program rules and puts the pre-approval in writing for the offer.
Contract and appraisal
With the contract signed, the lender requests a VA-assigned appraiser, who values the Hanford home and checks it against VA’s property requirements; the Notice of Value is issued on the report. Seller concessions are checked against VA’s cap, and any condominium project approval is confirmed.
Underwriting
An automated approval still runs the residual-income test; a manual file is read against the guideline and the table. Either way, the Hanford underwriter verifies the income, the assets, the credit history, and the property, and issues the approval with its conditions.
Closing
At closing the funding fee is added to the loan or paid, the escrows for taxes and insurance are set up, and there is no mortgage insurance to begin. A Hanford buyer signs the note and the security instrument, certifies occupancy, and VA’s guaranty attaches to the loan.
A brokerage that puts the benefit to work.
Lendmire is a mortgage brokerage licensed for consumer lending in sixteen states, and on a VA file that buys three things: the program run against FHA and conventional on the same numbers, the entitlement and the fee tier confirmed before an offer is written, and the terms in writing from a licensed loan officer.
Three programs, one set of numbers
A lender with one program sells that program; a brokerage with all three can say which fits. For a Hanford veteran with full entitlement the answer is almost always VA; with a large down payment it can be conventional, and the arithmetic decides.
The fee and the entitlement explained before the offer
The fee is the program’s cost and the entitlement is its reach, and Lendmire explains both first rather than last: how much the fee is, whether it is waived or refundable, and what the certificate supports for a Hanford buyer at the price in hand.
Licensed, consumer-purpose, in writing
Lendmire is licensed in sixteen states for consumer mortgages, each loan is a consumer-purpose transaction with the full set of disclosures, and every figure a Hanford buyer relies on, from the fee to the leverage to the final terms, comes in writing from a licensed loan officer.
Trusted by veterans & families alike.
Hanford VA loan FAQs
What a VA loan is, who is eligible, how the certificate works, what the funding fee costs, and how the loan limit works, answered for Hanford buyers.
What is a VA loan, and who is it for?
A VA loan is the mortgage an eligible Hanford buyer should compare first: backed by VA, offered through lenders, written with no down payment and no insurance line, and qualified on residual income rather than ratios alone.
Who is eligible for a VA loan in Hanford?
Most veterans with an honorable or general discharge can qualify, as can current service members past the minimum period, Guard and Reserve members with enough qualifying service, and eligible surviving spouses. Other-than-honorable discharges can disqualify, and VA reviews them case by case.
How do I get a Certificate of Eligibility?
Online at VA.gov, through the lender, or by mail. Have the service documents ready: the DD-214 for a veteran, a statement of service for a service member, Guard or Reserve records, or the spouse’s documentation. Some certificates issue instantly and some need VA to review the record.
What is the VA funding fee, and do I have to pay it?
VA charges it on most loans in place of mortgage insurance: a first-use purchase with nothing down pays the base tier, a subsequent use pays more, and a down payment of five or ten percent lowers either. Exempt veterans pay none of it, and a rating granted after closing can bring a refund.
Is there a VA loan limit in Hanford?
No limit with full entitlement, which is why a VA jumbo with nothing down exists. Partial entitlement brings the county conforming figure into the math; the loan officer confirms the current figure and the down payment it implies.
What happens after my Hanford offer is accepted?
The file moves into appraisal and underwriting, and the calendar is set by the appraisal, any repairs it requires, and the conditions the underwriter adds. No page can promise a date, and this one does not.
How does a VA refinance work?
Two paths: the rate-reduction refinance loan, or IRRRL, refinances an existing VA loan with a small funding fee, no VA appraisal in most cases, limited documentation, and a required net tangible benefit; the cash-out refinance replaces any first mortgage with a VA loan up to the leverage in the snapshot after seasoning, with full underwriting and the cash-out fee tier.
Can I take cash out with a VA refinance?
Yes, and the leverage reaches the full value of the home: the snapshot shows it, along with the seasoning rule. The cash-out fee tier applies unless the veteran is exempt, and the loan can also refinance an FHA or conventional mortgage into VA.
What credit score do I need for a VA loan?
There is no VA minimum, and the snapshot shows where the wholesale programs begin. A Hanford buyer below that floor should ask a loan officer what the file needs, because VA’s own rules weigh the payment history and residual income, not a score alone.
What is residual income, and why does it matter?
The dollars remaining after housing, debts, taxes, and upkeep, compared with a table by region and family size. It decides the close calls: a file above the ratio guideline can pass on strong residual income, and a file inside the guideline can fail on weak residual income.
Buy in Hanford with nothing down and no mortgage insurance.
Begin with a scenario review: the Certificate of Eligibility, the price, the income, and the household size. A licensed Lendmire loan officer runs VA beside FHA and conventional on the same numbers and puts the terms in writing.
This guide covers Hanford — for the statewide guidelines, markets, and scenarios, see VA Loans in California, part of Lendmire’s VA loan program.
Nearby markets in California: Corcoran · Visalia · Tulare · Fresno · Clovis · Porterville · Delano · Madera
Related programs: Conventional Loans · FHA Loans · Jumbo Loans