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in La Habra Heights, CA
La Habra Heights attracts both civilian and military-connected buyers looking for hillside privacy in Los Angeles County. Your service history determines which loan makes financial sense.
Conventional loans dominate the market here, but veterans leave serious money on the table if they don't explore VA financing. The gap between these options can mean $30,000+ over the loan term.
Conventional loans are the standard choice for most La Habra Heights buyers. They require 620+ credit and at least 3% down, though you'll pay PMI below 20% equity.
These loans handle any property type and loan amount without government caps. Lenders approve based on your income, credit, and debt ratios — straightforward underwriting that most W-2 earners can navigate.
VA loans eliminate the down payment requirement entirely for eligible veterans and active military. No PMI ever, regardless of down payment amount.
You'll pay a one-time funding fee (1.4-3.6% of loan amount) unless you're exempt through disability rating. Rates typically run 0.25-0.5% lower than conventional, and credit standards are more forgiving.
The down payment gap is the biggest difference. Conventional requires cash upfront; VA doesn't. But VA charges that funding fee, which most borrowers roll into the loan balance.
Credit flexibility favors VA — we've closed deals at 580 credit that conventional lenders rejected. VA also skips PMI entirely, saving $200-400 monthly on typical La Habra Heights purchase prices. Rates vary by borrower profile and market conditions.
If you qualify for VA, use it. The zero-down structure and PMI savings outweigh the funding fee in nearly every scenario we run. You preserve cash and reduce monthly costs.
Conventional makes sense when you don't have service eligibility, need a jumbo loan above VA limits, or want to avoid the funding fee with a large down payment already saved. For non-veterans buying in La Habra Heights, it's the only government-backed option besides FHA.
Yes, VA loans work on hillside properties as long as they meet safety and access standards. The VA appraisal checks slope stability and road access more carefully than conventional.
First-time VA users pay 2.3% with zero down, or 1.65% with 5%+ down. Veterans with disability ratings are exempt entirely, saving thousands.
Usually not. VA's lower rates and no PMI typically beat conventional even when you put 20% down on both. Run the numbers with actual rate quotes.
Not anymore. We close VA loans in 21-25 days routinely. The appraisal can add 3-5 days versus conventional, but it's not a deal-breaker.
Yes, you can use conventional anytime regardless of VA loan history. Some veterans use VA for primary residence and conventional for investment properties.