Question 1

Can I use a VA loan to buy a home in Norwalk with no money down?

Accepted Answer

Yes, VA loans allow zero down payment for qualified veterans in Norwalk. You'll still need funds for closing costs, though sellers can contribute up to 4% of the purchase price toward these expenses.

Question 2

Do I have to pay the VA funding fee in Los Angeles County?

Accepted Answer

Most borrowers pay the VA funding fee, which ranges from 1.4% to 3.6% of the loan amount. Veterans with service-connected disabilities are exempt. The fee can be financed into your loan amount.

Question 3

What credit score do I need for a VA loan in Norwalk?

Accepted Answer

Most lenders require a 580 minimum credit score for VA loans. Scores above 680 typically qualify for better rates. Each lender sets their own minimum within VA guidelines.

Question 4

Can I buy a multi-unit property with a VA loan?

Accepted Answer

Yes, VA loans cover properties up to four units if you occupy one unit as your primary residence. This allows veterans to build rental income while using their VA benefit.

Question 5

How long does VA loan approval take in Norwalk?

Accepted Answer

VA loans typically close in 30 to 45 days with experienced lenders. Obtaining your Certificate of Eligibility beforehand speeds the process. Properties requiring VA-mandated repairs may extend timelines.

VA Loans in Norwalk: Zero Down Payment Home Financing for Veterans