Question 1

Can I use a VA loan more than once in Alameda?

Accepted Answer

Yes. VA entitlement can be restored after you pay off a prior VA loan. You can also have two VA loans at once under certain conditions.

Question 2

Does a VA loan take longer to close than conventional?

Accepted Answer

VA loans require a VA appraisal, which can add a few days. Most VA deals still close in 30 days with an experienced lender.

Question 3

What credit score do I need for a VA loan?

Accepted Answer

The VA sets no official minimum, but most lenders require at least 580-620. Stronger credit gets you better pricing.

Question 4

Is PMI ever required on a VA loan?

Accepted Answer

No. VA loans never require PMI regardless of your down payment. That's one of the program's core benefits.

Question 5

Can I put money down on a VA loan if I want to?

Accepted Answer

Yes. Putting down even 5% reduces your funding fee. It's optional, but it can lower your monthly payment.

Question 6

Which loan has higher loan limits in Alameda County?

Accepted Answer

VA loans have no loan limit for borrowers with full entitlement. Conventional conforming loans cap at county limits set by FHFA.

Conventional vs VA Loans in Alameda, CA