Question 1

Can I use a VA loan on a $1.5M home in Los Angeles?

Accepted Answer

Yes—LA County has no VA loan cap. Your income must support the payment and you need enough residual income. Lenders verify debt ratios and cash flow, not purchase price.

Question 2

Do sellers in LA accept VA offers?

Accepted Answer

More now than before, especially with full underwriting pre-approval. Show proof of funds for closing costs and a strong appraisal contingency timeline. Competitive offers work.

Question 3

What's the funding fee on a $1M VA loan?

Accepted Answer

First-time use with zero down costs 2.15%, or $21,500 rolled into the loan. Five percent down drops it to 1.5%. Disabled veterans pay nothing.

Question 4

Can I buy a condo in Downtown LA with VA financing?

Accepted Answer

Only if the building is VA-approved or hits 50% owner-occupancy. Many new towers fail this test. We verify approval status before you write offers.

Question 5

How long does a VA loan take to close in Los Angeles?

Accepted Answer

25-35 days with experienced lenders. Appraisals take 10-14 days alone here. Rush timelines under 21 days rarely work in LA's market.

Question 6

Do I need cash reserves for a VA loan in LA?

Accepted Answer

Not for most single-family purchases. Lenders may require reserves on high debt ratios or investment properties. Conventional and jumbo loans always demand six months reserves.

VA Loans in Los Angeles: Zero Down for Veterans in a $900K+ Market