Question 1

Can I use a VA loan more than once in Salinas?

Accepted Answer

Yes. VA entitlement is reusable after you pay off a prior VA loan. You can also have two VA loans at once in some cases.

Question 2

Do VA loans take longer to close than conventional?

Accepted Answer

VA loans require a VA appraisal, which can add a few days. Most experienced lenders close VA loans in the same 30-45 day window.

Question 3

What credit score do I need for a VA loan?

Accepted Answer

The VA sets no minimum, but most lenders require at least a 580-620. Stronger credit still gets you a better rate.

Question 4

Is the VA funding fee always required?

Accepted Answer

No. Veterans with a service-connected disability rating are exempt from the funding fee entirely.

Question 5

Which loan has stricter property requirements?

Accepted Answer

VA loans do. The VA appraisal checks safety and livability standards. Conventional appraisals focus primarily on value.

Question 6

Can I buy a multi-unit property with a VA loan?

Accepted Answer

Yes, up to a 4-unit property if you occupy one unit. Conventional allows the same with standard owner-occupancy rules.

Conventional vs VA Loans in Salinas, CA