Question 1

Can I use a VA loan if I'm still active duty?

Accepted Answer

Yes, active-duty service members qualify for VA loans after 90 consecutive days of service. National Guard and Reservists need six years of service to qualify.

Question 2

Do VA loans really cost less than conventional in Commerce?

Accepted Answer

VA loans save $15,000-$60,000 upfront through zero down payment and eliminate ongoing PMI. The one-time funding fee is typically 2.3% for first-time users.

Question 3

What credit score do I need for each loan type?

Accepted Answer

Conventional loans require 620 minimum credit. VA lenders often approve borrowers at 580, though individual lender overlays may set higher minimums.

Question 4

Can I buy a multi-unit property with VA financing?

Accepted Answer

VA loans cover 2-4 unit properties if you occupy one unit as your primary residence. Investment properties without owner occupancy require conventional financing.

Question 5

Does conventional ever beat VA for military buyers?

Accepted Answer

Rarely. VA wins on cost for primary residences. Conventional makes sense only for investment properties or when you've exhausted VA entitlement on prior purchases.

Conventional vs VA Loans in Commerce: Which Mortgage Fits Your Profile?