Question 1

Do I need a Certificate of Eligibility to get a VA loan in San Leandro?

Accepted Answer

Yes. You need a Certificate of Eligibility from the VA to qualify. Active duty, veterans, and surviving spouses can request one online through VA.gov. The lender will verify it during underwriting. Most people get it in days.

Question 2

What's the monthly payment on a $750,000 VA loan at today's rates?

Accepted Answer

At 5.5% interest on a $750,000 loan, principal and interest run $4,258 per month. That's based on pricing as of April 12, 2026, with a 740 FICO, primary residence, 30-year fixed. Add property taxes, insurance, and HOA if applicable.

Question 3

Is the funding fee the same as PMI?

Accepted Answer

No. Funding fee is a one-time cost (2.15% for first-time use) rolled into your loan balance. PMI is a monthly payment that never cancels on FHA. VA has no monthly insurance — the funding fee is your only cost.

Question 4

Can I get a VA loan if my credit score is 680?

Accepted Answer

Yes, technically — VA's minimum is 620. But most lenders prefer 700+. At 680, you'll face tighter scrutiny and may pay a higher rate. Call to discuss your specific credit profile and recent history.

Question 5

What if I have a VA disability rating — does that change the funding fee?

Accepted Answer

Yes. If you have a 10% or higher VA disability rating, you're exempt from the funding fee entirely. Purple Heart recipients and surviving spouses are also exempt. Bring your disability letter to the lender.

VA 30-year Fixed Mortgages in San Leandro — Zero Down for Veterans