Question 1

Can I use a VA loan to buy a multi-unit property in Inglewood?

Accepted Answer

Yes, VA loans allow purchases up to four units if you occupy one as your primary residence. The other units can be rented, helping offset your mortgage payment while building equity.

Question 2

What credit score do I need for a VA loan in Los Angeles County?

Accepted Answer

Most lenders accept scores from 580-620, though some require higher. The VA itself sets no minimum, so lenders evaluate overall financial profiles including income and payment history.

Question 3

Do I need money for closing costs with zero down payment?

Accepted Answer

Yes, closing costs typically run 2-5% of the purchase price. However, sellers can pay up to 4% of costs, and some lenders offer no-closing-cost options with slightly higher rates.

Question 4

Can I buy a condo in Inglewood with a VA loan?

Accepted Answer

Yes, if the condo complex is VA-approved. Check the VA's approved condo list before making an offer, or ask your lender to verify approval status for the specific building.

Question 5

How does the VA funding fee work for Inglewood purchases?

Accepted Answer

The fee ranges from 1.4-3.6% based on down payment and first-time use, typically financed into the loan. Disabled veterans and surviving spouses are completely exempt from this fee.

VA Loans in Inglewood: Zero Down Payment Home Financing for Veterans