Question 1

Can I use a VA loan for a condo in Maywood?

Accepted Answer

Yes, but the condo complex must have VA approval. Many smaller Maywood complexes haven't gone through the approval process, which limits your options.

Question 2

What credit score do I actually need for VA loans here?

Accepted Answer

Most lenders require 620 minimum. Some portfolio lenders accept 580-600 with compensating factors like low debt-to-income ratios or cash reserves.

Question 3

Does the VA funding fee apply to disabled veterans?

Accepted Answer

No. Veterans with service-connected disabilities rated by the VA get the funding fee waived completely, saving $7,000+ on typical purchases.

Question 4

How long does VA loan approval take in Maywood?

Accepted Answer

Expect 21-45 days from application to closing. The VA appraisal adds 7-10 days compared to conventional loans due to stricter inspection standards.

Question 5

Can I buy a fixer-upper with a VA loan?

Accepted Answer

Only if it meets minimum property requirements at purchase. The VA requires homes to be safe and livable immediately, which rules out major renovation projects.

VA Loans in Maywood: Zero Down for Veterans in Southeast LA County