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in Rolling Hills, CA
Rolling Hills buyers face a unique choice between conventional and VA financing. The city's high-value properties demand careful loan selection.
Most Rolling Hills homes exceed conforming loan limits, changing how these programs work. Veterans get powerful benefits here, but conventional loans have their own advantages for large purchases.
Conventional loans require 3-20% down depending on loan amount. You need 620+ credit for standard approval, though 740+ gets the best rates.
These loans top out at $806,500 for conforming rates in Los Angeles County. Above that, you're in jumbo territory with stricter requirements but still competitive pricing.
Private mortgage insurance applies when you put down less than 20%. The upside: PMI drops off once you hit 20% equity through payments or appreciation.
VA loans require zero down payment for eligible veterans and active military. No PMI ever, regardless of down payment amount.
The VA guarantee tops out at $806,500 in Los Angeles County with no down payment. Above that, you need 25% down on the amount exceeding the limit.
VA loans charge a funding fee instead of PMI—typically 2.15% for first-time use with zero down. This fee finances the program and can be rolled into your loan amount.
Down payment separates these programs dramatically. VA offers zero down up to $806,500 in Rolling Hills, while conventional requires at least 3%.
Monthly costs differ beyond the rate. VA charges no PMI but has an upfront funding fee. Conventional adds PMI monthly until you hit 20% equity.
For Rolling Hills properties over $806,500, both programs get complicated. VA requires 25% down on the excess amount. Conventional shifts to jumbo pricing with stricter requirements.
Choose VA if you're eligible and want maximum purchasing power with minimal cash. The zero down and no PMI combination beats conventional for most veterans buying in the conforming range.
Pick conventional if you're not VA-eligible or buying well above $806,500. The jumbo conventional market has more lender options than high-balance VA loans.
Veterans buying luxury Rolling Hills properties over $2 million often blend both—VA up to the limit, conventional jumbo for the rest. This preserves the VA benefit while accessing jumbo financing.
Yes, but you need 25% down on amounts above $806,500. For a $2M home, that's $298,375 down—still no PMI though.
VA rates run 0.25-0.50% lower than conventional typically. Rates vary by borrower profile and market conditions, but VA usually wins.
Most do, especially when you're competitive otherwise. Rolling Hills sellers care more about price and close timeline than loan type.
No. Conventional loans require PMI until you reach 20% equity through payments or appreciation.
VA approves at 580+ typically, conventional needs 620 minimum. Both reward 740+ scores with the best pricing.
Usually yes if you're keeping the home 5+ years. The 2.15% fee costs less than saving 20% down in most Rolling Hills scenarios.