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Long Beach runs expensive. Most homes push $900K or more. That makes VA loans a massive advantage for eligible veterans and active-duty service members.
With zero down payment required, you skip the $180K cash hurdle that conventional buyers face. In Long Beach's competitive market, that's the difference between buying now or waiting years to save.
VA Loans in Long Beach
You need a Certificate of Eligibility from the VA. Most veterans with 90+ days active service qualify, along with current service members and some surviving spouses.
Credit requirements sit around 620, though many VA lenders prefer 640+. Income matters less than debt-to-income ratio, which VA caps near 41% before requiring compensating factors.
Local decision guide
Use this guide to connect va loans eligibility, lender expectations, and local market factors before comparing payment options in Long Beach.
Long Beach runs expensive. Most homes push $900K or more. That makes VA loans a massive advantage for eligible veterans and active-duty service members.
With zero down payment required, you skip the $180K cash hurdle that conventional buyers face. In Long Beach's competitive market, that's the difference between buying now or waiting years to save.
You need a Certificate of Eligibility from the VA. Most veterans with 90+ days active service qualify, along with current service members and some surviving spouses.
Not all lenders price VA loans the same. Some wholesale lenders waive the funding fee for first-time VA buyers. Others charge lower rates but higher closing costs.
Long Beach has plenty of VA-experienced lenders, but rates vary by half a point or more. We shop across 200+ wholesale lenders to find the lowest total cost for your situation.
Long Beach condos come with condo approval requirements. The building must be VA-approved or individually appraised. Many newer developments already have approval, but older complexes may not.
VA appraisals flag issues conventional appraisers ignore. Peeling paint, missing handrails, roof wear—any safety concern kills the deal until fixed. Budget time for repairs or negotiate them upfront.
FHA loans require 3.5% down plus monthly mortgage insurance. On a $900K Long Beach home, that's $31,500 upfront and $500+ monthly forever.
VA skips both. No down payment, no mortgage insurance. You pay a one-time funding fee—usually 2.3%—but that rolls into the loan. Much cheaper over time than FHA or conventional with less than 20% down.
Long Beach has a large veteran population, so most real estate agents understand VA contracts. But sellers in hot neighborhoods still prefer conventional or cash offers.
Strengthen your offer by waiving the funding fee appraisal gap clause if you can afford it. Or have your broker explain that VA appraisals close just as fast as conventional when the property is clean.
Yes, if the building is VA-approved or you get individual condo approval. Many Long Beach complexes already have approval, but check before making an offer.
First-time use is 2.3% of the loan amount. Subsequent use is 3.6%. Disabled veterans and some surviving spouses pay zero.
Yes. VA removed loan limits in 2020 for most borrowers. You can finance any amount with zero down if you have full entitlement.
They fear stricter appraisals or required repairs. A strong pre-approval and experienced broker solve this by explaining VA deals close just as reliably.
No. VA loans require you to live in the home as your primary residence. You can rent it out later after living there first.
Most lenders want 620 minimum. Some go lower with compensating factors, but 640+ gets you the best rates and terms.