Question 1

Can I use a VA loan on a Monterey Park condo?

Accepted Answer

Yes, if the complex appears on VA's approved condo list. About half of LA County condos qualify—verify before writing an offer to avoid wasted time.

Question 2

What credit score do I need for VA in Monterey Park?

Accepted Answer

Most lenders approve at 580, but rates improve significantly at 620+. We've closed 590 credit deals with strong income documentation.

Question 3

Do sellers in Monterey Park accept VA offers?

Accepted Answer

Yes, especially when you pre-clear appraisal concerns and show strong approval. VA closings move as fast as conventional with proper preparation.

Question 4

How does the VA funding fee work?

Accepted Answer

First-time users pay 2.3% of the loan amount, financed into the mortgage. Disabled veterans and certain surviving spouses pay zero.

Question 5

Can I buy above the $766,550 VA limit in Monterey Park?

Accepted Answer

Yes, you'll make a down payment covering the difference. A $900,000 purchase needs $133,450 down, still better than 20% conventional.

VA Loans in Monterey Park: Zero Down for Service Members in San Gabriel Valley