Question 1

Can I use a VA loan on a $3M Beverly Hills home?

Accepted Answer

Yes, but you'll need 25% of the amount over $1,249,125—roughly $477K down. At that price point, conventional jumbo often makes more sense.

Question 2

Do VA loans work for Beverly Hills condos?

Accepted Answer

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.

Question 3

How much do I save with zero down on a VA loan?

Accepted Answer

On a $1.5M purchase, you save $300K upfront vs conventional 20% down. That capital stays invested or covers renovations instead.

Question 4

What credit score do I need for each loan type?

Accepted Answer

VA loans approve at 620 credit. Jumbo conventional in Beverly Hills requires 700+ for competitive rates and terms.

Question 5

Can I avoid the VA funding fee?

Accepted Answer

Veterans with service-connected disabilities get the fee waived entirely. First-time VA users pay 2.3%, which can be financed into the loan.

Conventional vs VA Loans in Beverly Hills: Which Fits Your $2M+ Purchase?