Question 1

Can I use a VA loan in King City, CA?

Accepted Answer

Yes. VA loans work anywhere in California, including King City. You must meet VA service eligibility requirements.

Question 2

Does the VA loan have a loan limit in Monterey County?

Accepted Answer

If you have full VA entitlement, there is no loan limit. First-time VA users or those with prior entitlement in use may face county limits.

Question 3

What is the VA funding fee?

Accepted Answer

It's a one-time fee charged by the VA — not a lender fee. It can be rolled into your loan. Disabled veterans may be exempt.

Question 4

Which loan has lower monthly payments?

Accepted Answer

VA loans typically carry lower rates and no PMI. For most eligible borrowers, the monthly payment is lower than a comparable conventional loan.

Question 5

Can I get a conventional loan with 3% down?

Accepted Answer

Yes. Programs like Fannie Mae's HomeReady allow 3% down. You'll pay PMI until you hit 20% equity.

Question 6

Can a veteran choose conventional over VA?

Accepted Answer

Absolutely. Some veterans prefer conventional — for investment properties or if they're putting 20% down and want to avoid the funding fee.

Conventional vs VA Loans in King City, CA