Question 1

Can I use a VA loan on a fixer-upper in Cudahy?

Accepted Answer

Technically yes, but VA appraisers flag repairs conventional appraisers ignore. Peeling paint, cracked windows, and worn roofs kill VA deals. Those repairs must close before funding.

Question 2

Does conventional always have better rates than VA?

Accepted Answer

Not always. VA rates run 0.25-0.50% lower for average credit borrowers. But 760+ credit conventional borrowers often beat VA rates by 0.125-0.25% depending on market conditions.

Question 3

How much does PMI cost on a conventional loan in Cudahy?

Accepted Answer

Expect $75-$200 monthly per $100,000 borrowed with less than 20% down. Exact cost depends on credit score and down payment size. It drops off automatically at 20% equity.

Question 4

Can sellers refuse VA loans in Cudahy?

Accepted Answer

Sellers can't legally discriminate, but they often favor conventional in multiple offer situations. VA's longer timeline and stricter appraisals make some sellers nervous, especially on older homes.

Question 5

What's the VA funding fee in 2025?

Accepted Answer

First-time use with zero down is 2.3%. Subsequent use is 3.6%. Put down 5% and it drops to 1.65%. The fee finances into your loan amount in most cases.

Conventional vs VA Loans in Cudahy: Which Path Gets You In Faster?