Question 1

Can I use a VA loan anywhere in San Dimas?

Accepted Answer

Yes, VA loans work throughout San Dimas for properties meeting safety standards. The home must be your primary residence and pass a VA appraisal.

Question 2

What credit score do I need for each loan type?

Accepted Answer

Conventional requires 620 minimum, though 680+ gets better rates. VA often approves 580+ credit, but most lenders prefer 620 or higher.

Question 3

How much does VA funding fee cost?

Accepted Answer

First-time VA users pay 2.3% with zero down, so $16,100 on a $700,000 loan. You can roll this into your mortgage instead of paying upfront.

Question 4

Which loan closes faster in San Dimas?

Accepted Answer

Conventional typically closes 2-3 days faster because VA requires additional property inspections. Both usually complete within 30 days with experienced lenders.

Question 5

Can I avoid mortgage insurance on conventional loans?

Accepted Answer

Yes, put 20% down to eliminate private mortgage insurance completely. Below 20% down, you'll pay $100-$300 monthly until reaching 20% equity.

Question 6

Do San Dimas sellers prefer one loan type?

Accepted Answer

Some prefer conventional in competitive markets due to fewer appraisal conditions. Strong VA pre-approvals with experienced lenders often compete equally well.

Conventional vs VA Loans in San Dimas: Which Mortgage Wins for Your Home Purchase?