Question 1

Can I use a VA loan on a Diamond Bar condo?

Accepted Answer

Only if the HOA is VA-approved. About 60% of Diamond Bar condos qualify, but newer complexes often haven't completed the approval process yet.

Question 2

Does the VA funding fee apply to refinances?

Accepted Answer

Yes, but it drops to 0.5% on VA-to-VA refinances. You can roll it into the loan amount instead of paying upfront.

Question 3

Will sellers in Diamond Bar reject my VA offer?

Accepted Answer

Not automatically, but they'll favor conventional in multiple-offer scenarios. Offering full asking or above helps offset the appraisal risk.

Question 4

Can I combine a VA loan with down payment assistance?

Accepted Answer

Yes, though few programs exist in Los Angeles County. The VA allows seller credits up to 4% toward closing costs as an alternative.

Question 5

Which loan type has lower rates in Diamond Bar?

Accepted Answer

Conventional rates run 0.125-0.25% lower for 740+ credit scores. VA rates stay flatter across credit tiers, helping borrowers with 620-680 scores.

Conventional vs VA Loans in Diamond Bar: Which Saves You More?