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Marina sits next to Fort Ord — now a university campus and mixed-use community. Veterans here are plentiful, and VA loans are one of the most-used purchase tools in this zip code.
Monterey County has strong military ties through the Defense Language Institute and Naval Postgraduate School. That means lenders here know VA files. They close them regularly.
0%
Down Payment
620 (typical)
Min Credit Score
None
Mortgage Insurance
2.15%
Funding Fee (1st use)
None w/ full entitlement
Loan Limit
VA Loans in Marina
You need a Certificate of Eligibility (COE) to use a VA loan. Active-duty members, veterans with honorable discharge, and surviving spouses all qualify — assuming service requirements are met.
Most VA lenders want a 620 credit score minimum. The VA itself sets no floor, but lenders add their own overlays. Debt-to-income ratios are flexible — often approved up to 60% with strong residual income.
Local decision guide
Use this guide to connect va loans eligibility, lender expectations, and local market factors before comparing payment options in Marina.
Marina sits next to Fort Ord — now a university campus and mixed-use community. Veterans here are plentiful, and VA loans are one of the most-used purchase tools in this zip code.
Monterey County has strong military ties through the Defense Language Institute and Naval Postgraduate School. That means lenders here know VA files. They close them regularly.
You need a Certificate of Eligibility (COE) to use a VA loan. Active-duty members, veterans with honorable discharge, and surviving spouses all qualify — assuming service requirements are met.
Not every lender handles VA loans well. Some banks treat them like conventional files and fumble the process. VA-experienced lenders know what appraisers flag and how to manage timelines.
At SRK CAPITAL, we work with 200+ wholesale lenders — several of them VA specialists. We shop your file to find who's pricing VA paper competitively right now. Rates vary by borrower profile and market conditions.
The VA funding fee trips up a lot of borrowers. First-time VA users with zero down pay 2.15% of the loan amount. Disabled veterans are exempt — always check your rating before closing.
VA appraisals in Monterey County can run tight. Properties near the old Fort Ord footprint sometimes have environmental flag issues. Get a VA-experienced appraiser who knows this area.
FHA requires 3.5% down and charges mortgage insurance for the life of the loan. VA beats it on both counts — zero down and no mortgage insurance at all.
Conventional loans need at least 3-5% down and PMI until you hit 20% equity. If you're VA-eligible, it's very hard to justify a conventional loan at the same rate.
Marina's housing stock includes older homes from the Fort Ord era. VA appraisers will flag deferred maintenance hard. Sellers need to know a VA buyer may require repairs before closing.
Monterey County's coastal location pushes prices up. VA loans have no loan limits for borrowers with full entitlement — that matters when you're shopping in a higher-cost area like this.
Yes, if you have full VA entitlement. No down payment is required. You still pay closing costs unless you negotiate seller concessions.
They can, but the VA appraisal will flag any safety or habitability issues. Sellers may need to make repairs before closing.
First-time users with zero down pay 2.15%. Disabled veterans with a service-connected rating are fully exempt from the fee.
No limit if you have full entitlement. Borrowers with remaining entitlement may face county-based caps.
Typically 30-45 days. VA appraisals add time. Working with a VA-experienced lender keeps the process on track.
Yes, eligible surviving spouses qualify. You'll need a COE showing surviving spouse eligibility before applying.