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Pacific Grove sits on the Monterey Peninsula — one of California's priciest coastal markets. VA loans matter here because zero down payment is a real advantage when prices are high.
The VA loan limit was removed for most eligible veterans in 2020. Full entitlement means no cap on what you can borrow without a down payment.
620 (most lenders)
Min Credit Score
0% with full entitlement
Down Payment
None
Mortgage Insurance
2.15% first-time use
VA Funding Fee
30-45 days
Typical Close Time
VA Loans in Pacific Grove
You need a Certificate of Eligibility from the VA. Most lenders also want a 620 credit score, though some go lower.
VA loans require a funding fee — usually 2.15% for first-time use with zero down. Disabled veterans are exempt. Rates vary by borrower profile and market conditions.
Local decision guide
Use this guide to connect va loans eligibility, lender expectations, and local market factors before comparing payment options in Pacific Grove.
Pacific Grove sits on the Monterey Peninsula — one of California's priciest coastal markets. VA loans matter here because zero down payment is a real advantage when prices are high.
The VA loan limit was removed for most eligible veterans in 2020. Full entitlement means no cap on what you can borrow without a down payment.
You need a Certificate of Eligibility from the VA. Most lenders also want a 620 credit score, though some go lower.
Not every lender handles VA loans well. Some retail banks treat VA files like conventional loans — that creates delays and mistakes.
At SRK CAPITAL, we access 200+ wholesale lenders who specialize in VA programs. We match your file to lenders who close VA deals regularly in Monterey County.
Pacific Grove sellers sometimes hesitate on VA offers. They assume VA appraisals kill deals. That concern is mostly outdated — and a strong preapproval letter helps.
One thing that does matter: the VA Minimum Property Requirements. Older coastal homes sometimes need repairs before closing. Know this going in.
FHA loans need 3.5% down and carry mortgage insurance for life. VA loans have no monthly mortgage insurance — ever. That saves hundreds per month.
Conventional loans require 20% down to avoid PMI in this price range. Jumbo loans need even more. VA beats both for qualified borrowers.
Pacific Grove's housing stock includes older Victorian-era and mid-century homes. VA appraisers flag deferred maintenance, peeling paint, and failing roofs.
The Monterey Peninsula draws active-duty personnel from Fort Ord's successor installations and NPS Monterey. VA demand here is real and consistent.
Yes, but the condo project must be VA-approved. Check the VA's approved condo list before you make an offer.
With full entitlement, there's no loan limit. You can borrow as much as a lender will approve without putting money down.
Typically 30-45 days. VA appraisals add time — budget for that when writing your offer.
Yes. Unremarried surviving spouses of veterans who died in service or from a service-connected disability qualify.
The funding fee is typically 2.15% for first use at zero down. Most borrowers roll it into the loan balance.
They can be. A clean file, fast preapproval, and an experienced VA lender make your offer much more competitive.