Question 1

Can a veteran use conventional instead of VA?

Accepted Answer

Yes. Some veterans prefer conventional to preserve VA entitlement or buy a non-primary property. It depends on your goals.

Question 2

Does VA require a funding fee?

Accepted Answer

Yes. Most VA borrowers pay a one-time funding fee at closing. Some disabled veterans are exempt from this fee.

Question 3

Which loan has lower monthly payments?

Accepted Answer

VA typically wins — no PMI and lower rates reduce your payment. Rates vary by borrower profile and market conditions.

Question 4

Can I use VA to buy a rental property in Chowchilla?

Accepted Answer

No. VA loans require owner occupancy. You must intend to live in the home as your primary residence.

Question 5

What credit score does VA require?

Accepted Answer

VA has no official minimum, but most lenders require 580–620. Conventional lenders typically require at least 620.

Question 6

Is there a loan limit on VA loans?

Accepted Answer

Eligible veterans with full entitlement have no VA loan limit. Conventional conforming limits still apply to standard conventional loans.

Conventional vs VA Loans in Chowchilla, CA