Question 1

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

Accepted Answer

Yes, if the building has VA approval or you get individual unit approval. Expect 2-4 extra weeks for condo review and approval process.

Question 2

What happens if the home I want costs $900k in Redondo Beach?

Accepted Answer

You'll need a down payment on the $133,450 gap above the $766,550 VA limit. Alternatively, you could use a conventional jumbo loan with 10-20% down.

Question 3

Do Redondo Beach sellers accept VA offers?

Accepted Answer

Most do, especially with pre-approval and strong financials. VA appraisals here rarely cause issues if you're paying fair market value.

Question 4

How much is the VA funding fee in Los Angeles County?

Accepted Answer

2.3% of the loan amount for first use, 3.6% for subsequent use. Disabled veterans and surviving spouses pay zero funding fee.

Question 5

Can I buy a duplex with a VA loan in Redondo Beach?

Accepted Answer

Yes, VA allows 1-4 unit purchases as long as you occupy one unit. Future rental income can help you qualify for the mortgage.

Question 6

What credit score do I need for a VA loan here?

Accepted Answer

Minimums start at 580-600, but 640+ gets you access to competitive lenders and better pricing. Most approvals happen above 620.

VA Loans in Redondo Beach: Zero Down on Coastal Property for Veterans