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Desert Hot Springs sits in Riverside County where the median household income of $89,672 stretches across a market with solid inventory and competitive pricing. At 5.5%, a $750,000 VA purchase runs $4,258 monthly (principal and interest only).
VA loans dominate the veteran market here because zero down eliminates the barrier most borrowers face. No PMI, no down payment, no waiting to save. The funding fee replaces insurance — a one-time cost built into the loan.
5.5%
Interest Rate
$4,258
Monthly P&I
740
FICO (scenario)
$0
Down Payment
$750,000
Loan Amount
30 days
Lock Period
VA Loans in Desert Hot Springs
VA loans require a Certificate of Eligibility proving active duty, veteran status, or surviving spouse status. Credit floor sits around 620, but most lenders prefer 740+. Zero down is the standard — you're borrowing the full purchase price.
Funding fee replaces PMI and runs 2.15% on first-time use with zero down. That's about $16,125 on a $750K loan, rolled into the mortgage. Subsequent VA loans carry a 3.3% fee unless you have a 10%+ VA disability rating, which exempts you entirely.
Local decision guide
Use this guide to connect va loans eligibility, lender expectations, and local market factors before comparing payment options in Desert Hot Springs.
Desert Hot Springs sits in Riverside County where the median household income of $89,672 stretches across a market with solid inventory and competitive pricing. At 5.5%, a $750,000 VA purchase runs $4,258 monthly (principal and interest only).
VA loans dominate the veteran market here because zero down eliminates the barrier most borrowers face. No PMI, no down payment, no waiting to save. The funding fee replaces insurance — a one-time cost built into the loan.
VA loans require a Certificate of Eligibility proving active duty, veteran status, or surviving spouse status. Credit floor sits around 620, but most lenders prefer 740+. Zero down is the standard — you're borrowing the full purchase price.
VA lending in California splits between retail banks, credit unions, and mortgage brokers. Brokers typically close VA loans in 30-45 days because they work with multiple lenders and can shop your file for the best rate.
VA loans carry agency rules set by the Department of Veterans Affairs — no overlays allowed that aren't VA-approved. That means lenders can't add extra credit requirements or tighten debt ratios beyond VA guidelines.
VA loans make sense in Desert Hot Springs for any veteran or active-duty buyer at any down payment level. The zero-down structure means you're not competing against conventional buyers who put 20% down.
The only scenario where VA doesn't pencil is if you're buying below $300,000 and have 20% down saved. Then conventional rates run nearly identical and you skip the funding fee. Above $300K with zero down, VA wins every time.
Conventional loans at this price require 20% down ($150,000) to avoid PMI. VA requires zero down. That's the structural difference. Conventional rates run slightly higher than VA at the same credit score, but the real cost is the down payment you must have...
FHA loans sit between VA and conventional — 3.5% down minimum, but lifetime mortgage insurance if you put less than 10% down. At $750,000, FHA's loan limit is $690,000, so you'd need to put down $60,000 just to qualify. VA has no loan limit at this price.
Desert Hot Springs sits 15 miles east of Palm Springs with direct access to I-10. That proximity matters for commuters working in the Coachella Valley or heading west toward Los Angeles.
The thermal springs that gave the city its name support a small wellness tourism sector. That keeps the local economy stable and property values steady.
Yes. You must provide a Certificate of Eligibility proving active duty, veteran status, or surviving spouse status. The VA issues it free at VA.gov. Your lender will verify it before processing. Without it, you don't qualify for VA benefits.
Principal and interest run $4,258 per month on a $750,000 loan at 5.5% APR (5.518% with 0.197 points costing $1,478 upfront). That's the rate as of April 8, 2026. Add property taxes, insurance, and HOA if applicable to get your total payment.
Yes. First-time VA users with zero down pay 2.15% funding fee ($16,125 on $750K). It rolls into your loan balance. Veterans with a 10% or higher VA disability rating are exempt. Subsequent VA loans carry 3.3% unless you're disabled.
Yes. Putting down 5%, 10%, or 20% is allowed and lowers your funding fee. But it's not required. Most VA buyers skip the down payment because zero down is the program's main advantage.
VA minimum is 620, but most lenders require 740+. At 740 FICO, you'll get the best rates. Below 700, expect higher rates or overlays from some lenders.