Question 1

Can I use a VA loan if I'm still active duty?

Accepted Answer

Yes. Active-duty service members qualify with at least 90 consecutive days served. Your DD-214 or statement of service confirms eligibility.

Question 2

Do VA loans take longer to close than conventional?

Accepted Answer

They used to. Most VA loans now close in similar timeframes. The VA appraisal is the main variable — plan for it.

Question 3

What credit score do I need for a VA loan?

Accepted Answer

The VA doesn't set a minimum, but most lenders want at least 580-620. Stronger scores still get better rates.

Question 4

Is the VA funding fee required every time I use the benefit?

Accepted Answer

Yes, unless you have a service-connected disability rating. The fee increases for subsequent uses beyond your first purchase.

Question 5

Can I buy a condo in Del Rey Oaks with a VA loan?

Accepted Answer

Only if the condo project is VA-approved. Check the VA's condo approval list before making an offer — it saves headaches.

Question 6

Which loan has lower rates, conventional or VA?

Accepted Answer

VA rates are typically lower for eligible borrowers. Add the PMI savings and the monthly gap widens further. Rates vary by borrower profile and market conditions.

Conventional vs VA Loans in Del Rey Oaks, CA