Question 1

Can I use a VA loan for a condo in West Covina?

Accepted Answer

Yes, but the condo complex must be VA-approved. Most newer developments qualify, but older HOAs may not meet VA requirements for reserves or owner-occupancy ratios.

Question 2

What's the VA loan limit in Los Angeles County?

Accepted Answer

$766,550 for 2024 with zero down. Above that amount you can still get a VA loan but need to cover 25% of the difference between purchase price and the limit.

Question 3

How many times can I use my VA loan benefit?

Accepted Answer

Unlimited times. Once you sell and pay off the loan, your entitlement restores fully and you can use it again immediately for another purchase.

Question 4

Do sellers in West Covina accept VA offers?

Accepted Answer

Yes, when positioned correctly. Strong pre-approval from an experienced VA lender and a short appraisal contingency period make your offer competitive with conventional financing.

Question 5

Can I skip the VA funding fee?

Accepted Answer

Only if you receive VA disability compensation or are a surviving spouse. Otherwise the fee applies but gets rolled into your loan amount rather than paid upfront.

Question 6

What credit score do I actually need for VA loans here?

Accepted Answer

Most lenders want 620 minimum. Some approve at 580 with compensating factors like significant residual income or low debt-to-income ratio below 40%.

VA Loans in West Covina: Zero Down for Service Members in Los Angeles County