Question 1

Do I need to put money down on a VA loan?

Accepted Answer

No — VA loans require zero down. You borrow the full purchase price. The funding fee (2.15% on first-time use) gets rolled into the loan, so you don't pay it upfront unless you choose to.

Question 2

What's my monthly payment on a $750K VA loan at 5.5%?

Accepted Answer

Principal and interest run $4,258 per month. That's on a $750K loan at 5.5% APR with a 30-day lock, 740 FICO, primary residence. Add property taxes, insurance, and HOA if applicable.

Question 3

Is the funding fee the same as PMI?

Accepted Answer

No — the funding fee is a one-time cost (2.15% on first use) rolled into your loan. PMI is monthly and never cancels on conventional loans below 80% LTV. VA's fee is cheaper long-term.

Question 4

Can I get the funding fee waived?

Accepted Answer

Yes — if you have a VA disability rating of 10% or higher, are a Purple Heart recipient, or are a surviving spouse. Otherwise, the fee applies unless you put down 5%+ to lower it.

Question 5

What credit score do I need for a VA loan in Livermore?

Accepted Answer

Most lenders want 740+ FICO for the best rates. Some will go as low as 620, but your rate will be higher and terms tighter. 740+ is the sweet spot for this market.

VA 30-year fixed in Livermore: zero down, $4,258/month at 5.5%