Question 1

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

Accepted Answer

Yes. VA loan entitlement can be restored after you sell and pay off a prior VA loan. Some veterans can even carry two VA loans at once.

Question 2

Do conventional loans have loan limits in Kings County?

Accepted Answer

Conventional conforming loans follow FHFA limits. Anything above the limit requires a jumbo loan with stricter qualification standards.

Question 3

Which loan closes faster — conventional or VA?

Accepted Answer

Conventional loans often close slightly faster. VA loans require a VA appraisal, which can add a few days to the timeline.

Question 4

Does the VA funding fee eliminate the savings from no down payment?

Accepted Answer

Rarely. The fee is typically 2.15% for first use. No PMI and a lower rate usually offset that cost within a few years.

Question 5

Can I buy a duplex in Hanford with a VA loan?

Accepted Answer

Yes, if you occupy one unit as your primary residence. VA allows multi-unit properties up to four units under that condition.

Question 6

What credit score do I need for a VA loan vs conventional?

Accepted Answer

VA has no official minimum, but most lenders want 580 or higher. Conventional lenders typically require at least 620.

Conventional vs VA Loans in Hanford, CA