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in Beverly Hills, CA
Beverly Hills real estate starts around $1.5M for condos and climbs past $5M for single-family homes. Most buyers here choose between conventional financing with 20% down or VA loans if they qualify through military service.
The right loan depends on your veteran status and how much cash you want to preserve. VA loans eliminate down payments entirely, while conventional loans offer more property type flexibility in this luxury market.
Conventional loans in Beverly Hills typically mean jumbo financing since most properties exceed the $766,550 conforming limit. You'll need 20% down ($300K+ on a $1.5M condo) and credit scores above 700.
These loans work for any property type—including luxury condos, investment properties, and estates over $5M. Rates run 0.25-0.50% higher than conforming conventional loans, and lenders scrutinize income documentation closely.
VA loans let eligible veterans buy with zero down payment up to $1,089,300 in Los Angeles County. Above that amount, you'll need to cover 25% of the difference between the purchase price and the limit.
On a $1.5M Beverly Hills condo, that means roughly $102K down instead of $300K with conventional. You'll pay a 2.3% funding fee (waived for disabled veterans), but you save massive cash upfront and avoid PMI forever.
Down payment separates these loans dramatically. Conventional requires 20% ($300K on $1.5M) while VA needs zero below the limit or just 25% of the excess above it.
Property restrictions matter in Beverly Hills. VA loans require properties to meet stricter condition standards and won't work for investment properties or second homes. Conventional loans have no such limits—you can finance that $8M estate or income-producing fourplex.
Use VA financing if you qualify and you're buying a primary residence under $2M. The down payment savings ($100K-$300K) outweigh the funding fee, and you'll never pay PMI.
Go conventional if you're buying investment property, a second home, or anything requiring major renovations pre-purchase. Also required for ultra-luxury purchases over $3M where VA loan limits create large down payment requirements anyway.
Yes, but you'll need 25% of the amount over $1,089,300—roughly $477K down. At that price point, conventional jumbo often makes more sense.
Only if the condo complex is VA-approved. Many luxury buildings aren't, which forces you to conventional financing even if you qualify for VA.
On a $1.5M purchase, you save $300K upfront vs conventional 20% down. That capital stays invested or covers renovations instead.
VA loans approve at 620 credit. Jumbo conventional in Beverly Hills requires 700+ for competitive rates and terms.
Veterans with service-connected disabilities get the fee waived entirely. First-time VA users pay 2.3%, which can be financed into the loan.