Question 1

Can a veteran use a conventional loan instead of VA?

Accepted Answer

Yes. Veterans can choose either loan. Conventional may make sense when buying a second home or investment property.

Question 2

Does VA or conventional have stricter credit requirements?

Accepted Answer

Conventional is stricter in practice. VA has no official minimum, but most lenders want 620. Conventional lenders enforce that floor more rigidly.

Question 3

What is the VA funding fee in Greenfield?

Accepted Answer

It depends on your down payment and usage. First-time users with zero down pay 2.15%. Some veterans with service-related disabilities are exempt.

Question 4

Do VA loans have loan limits in Monterey County?

Accepted Answer

Not if you have full VA entitlement. Borrowers with remaining entitlement may face county-level limits. Check your COE to confirm.

Question 5

Which loan closes faster in Greenfield?

Accepted Answer

Conventional typically closes slightly faster. VA loans require a VA appraisal, which can add a few days to the timeline.

Question 6

Can I use a VA loan to buy a duplex in Greenfield?

Accepted Answer

Yes, if you live in one unit. VA allows 1-4 unit properties as long as you occupy one unit as your primary residence.

Conventional vs VA Loans in Greenfield, CA