Question 1

Can I use a VA loan to buy a rental property in Gustine?

Accepted Answer

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

Question 2

Do VA loans have loan limits in Merced County?

Accepted Answer

Veterans with full entitlement have no VA loan limit. Borrowers with partial entitlement may face county-based caps.

Question 3

Which loan has lower monthly payments?

Accepted Answer

VA usually wins — no PMI and lower rates reduce your monthly cost. Rates vary by borrower profile and market conditions.

Question 4

Can I put money down on a VA loan?

Accepted Answer

Yes. Zero down is the minimum, but you can put money down to lower your payment or reduce the funding fee.

Question 5

What credit score do I need for a conventional loan?

Accepted Answer

Most lenders require at least 620. Better rates kick in at 740 and above.

Question 6

Is the VA funding fee paid upfront or rolled in?

Accepted Answer

You can roll it into the loan balance. Most borrowers do this to avoid paying it out of pocket at closing.

Conventional vs VA Loans in Gustine, CA