Question 1

Can I use a VA loan to buy a rental property in Chico?

Accepted Answer

No. VA loans require owner occupancy. You must live in the home as your primary residence.

Question 2

Does the VA funding fee cancel out the zero-down benefit?

Accepted Answer

Rarely. No PMI over the loan life usually outweighs the one-time funding fee. Run the numbers with us.

Question 3

What credit score do I need for a conventional loan?

Accepted Answer

Most lenders want at least 620. Better rates start showing up at 740 and above.

Question 4

Can I have both a VA loan and a conventional loan?

Accepted Answer

Yes. You can hold both simultaneously if you meet each loan's eligibility and qualification requirements.

Question 5

Which loan closes faster in Chico?

Accepted Answer

Conventional often closes slightly faster. VA loans require a VA appraisal, which can add a few days.

Question 6

Do VA loans have loan limits in Butte County?

Accepted Answer

Veterans with full entitlement have no VA loan limit. Reduced entitlement borrowers may face county-based caps.

Conventional vs VA Loans in Chico, CA