Question 1

Can I use a VA loan on a Redondo Beach condo?

Accepted Answer

Yes, if the building is VA-approved. Many beachfront complexes qualify, but some don't meet VA condo requirements. We verify approval status before you make an offer.

Question 2

What credit score do I need for each loan type?

Accepted Answer

Conventional typically requires 620 minimum. VA lenders often approve scores in the 580-600 range, though higher scores get better rates.

Question 3

How much is the VA funding fee on a Redondo Beach purchase?

Accepted Answer

First-time use with zero down is 2.3% of the loan amount. On a $1.2M home, that's $27,600 rolled into your mortgage. Disabled veterans pay nothing.

Question 4

Which loan closes faster in Redondo Beach?

Accepted Answer

Both close in 25-35 days typically. VA appraisals sometimes take longer, but we order them early to keep timelines tight.

Question 5

Can I avoid PMI with less than 20% down on conventional?

Accepted Answer

No. Conventional loans require PMI below 20% equity. Your only options are putting 20% down, paying points for lender-paid PMI, or using VA benefits if eligible.

Conventional vs VA Loans in Redondo Beach: Which Mortgage Fits Your Beach City Budget?