Question 1

Do I need to put money down to buy in Mission Viejo with a VA loan?

Accepted Answer

No — VA loans require zero down. You can buy a $750,000 home with no down payment if you have a Certificate of Eligibility and meet credit and income requirements. The funding fee replaces PMI.

Question 2

What's the monthly payment on a $750,000 VA loan at today's rate?

Accepted Answer

Principal and interest run $4,254 monthly at 5.49% on a 30-year VA loan for $750,000. That's the base payment; property taxes, insurance, and HOA fees add on top. The rate shown is as of April 20, 2026.

Question 3

What credit score do I need for a VA loan in Mission Viejo?

Accepted Answer

VA loans technically allow 620+ FICO, but lenders typically want 740+ for the best rates and faster approval. At 740 FICO, you qualify for the rate shown. Below 740, expect a rate bump or longer underwriting.

Question 4

Is the VA funding fee the same as PMI?

Accepted Answer

No — the funding fee is a one-time cost (2.15% for first-time users with zero down) rolled into your loan. PMI is annual and never cancels on FHA. VA has no annual insurance, making it cheaper over time.

Question 5

Can I get a VA loan if I'm self-employed?

Accepted Answer

Yes, but underwriting takes longer. VA lenders require two years of tax returns and will scrutinize income stability closely. W-2 earners close faster. Self-employed buyers should expect 45-60 day timelines.

VA 30-year fixed loans in Mission Viejo: zero down, $750K purchase at 5.49%