Question 1

Can I buy a home in Oakley with a VA loan if I'm still active duty?

Accepted Answer

Yes, active-duty service members qualify for VA loans after meeting minimum service requirements. You'll need 90 consecutive days during wartime or 181 days during peacetime.

Question 2

Do VA loans take longer to close in Oakley than conventional loans?

Accepted Answer

Not with experienced VA lenders. While VA appraisals follow specific requirements, knowledgeable lenders familiar with Contra Costa County processes close on similar timelines to conventional financing.

Question 3

Can I use a VA loan for a condo or townhouse in Oakley?

Accepted Answer

Yes, if the complex appears on the VA's approved condominium list. Your lender can verify approval status and help with projects requiring certification.

Question 4

What if the home I want needs repairs to meet VA standards?

Accepted Answer

Sellers can complete repairs before closing or offer credits. Alternatively, you might negotiate a price reduction reflecting repair costs, though work must meet VA minimum property requirements.

Question 5

How much is the VA funding fee in Oakley?

Accepted Answer

Fees range from 1.4 to 3.6 percent of the loan amount based on down payment, prior VA loan use, and military status. Veterans with service-connected disabilities may receive exemptions.

VA Loans in Oakley: Zero Down Payment Home Financing for Veterans