Question 1

Can I use a VA loan to buy in Aliso Viejo?

Accepted Answer

Yes. VA loans have no county loan limits for borrowers with full entitlement. Aliso Viejo properties are eligible as long as they meet VA appraisal standards.

Question 2

Does the VA funding fee make the loan more expensive than conventional?

Accepted Answer

It depends on your down payment and how long you stay in the home. No PMI often offsets the funding fee within a few years.

Question 3

What credit score do I need for a conventional loan?

Accepted Answer

Lenders require a 620 minimum. Rates improve significantly at 740 and above — that's where conventional gets very competitive.

Question 4

Can I avoid the VA funding fee?

Accepted Answer

Yes, if you receive VA disability compensation or are a surviving spouse of a veteran who died in service, the fee is waived.

Question 5

Which loan closes faster — conventional or VA?

Accepted Answer

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

Question 6

Can I have both a VA loan and a conventional loan at the same time?

Accepted Answer

Yes, in some cases. Remaining VA entitlement determines eligibility. A broker can calculate your available entitlement before you apply.

Conventional vs VA Loans in Aliso Viejo, CA