Question 1

Can I use a VA loan on Rancho Palos Verdes ocean-view homes over $2M?

Accepted Answer

Yes, if you have full VA entitlement. There's no price cap in high-cost counties. Lender overlays may require larger reserves at higher purchase prices.

Question 2

Do VA appraisers discount value for hillside lots or ocean proximity?

Accepted Answer

No discount for location features. But they flag drainage issues, retaining wall condition, and land movement more strictly than conventional appraisers on peninsula properties.

Question 3

How does the VA funding fee work on a $1.5M purchase with zero down?

Accepted Answer

You'd pay 2.3% ($34,500) unless disability-exempt. The fee finances into your loan, so no cash due at closing beyond typical costs.

Question 4

Will sellers accept VA offers in this price range?

Accepted Answer

Strong ones, yes. Show proof of funds for appraisal gaps and get pre-approved by a lender experienced with peninsula properties.

Question 5

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

Accepted Answer

Only if it meets minimum property requirements first. Peeling paint, roof issues, or foundation cracks kill VA appraisals. Look at VA renovation loans for heavy repairs.

VA Loans in Rancho Palos Verdes: Zero Down on Coastal Properties