Question 1

Can I use a VA loan in Los Banos?

Accepted Answer

Yes. VA loans work anywhere in California, including Los Banos. You just need to meet VA service eligibility requirements.

Question 2

Do VA loans have loan limits in Merced County?

Accepted Answer

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

Question 3

What is the VA funding fee?

Accepted Answer

It's a one-time fee rolled into the loan at closing. The amount depends on your down payment and whether you've used VA before.

Question 4

Which loan has lower monthly payments?

Accepted Answer

VA often wins on monthly cost. No PMI and slightly lower rates typically offset the funding fee over time.

Question 5

Can I have both a VA and conventional loan?

Accepted Answer

Yes, in some cases. You could have a conventional loan on one property and use remaining VA entitlement on another.

Conventional vs VA Loans in Los Banos, CA