Question 1

Can I use a VA loan in Hollister, CA?

Accepted Answer

Yes. VA loans work anywhere in California, including San Benito County. You need a Certificate of Eligibility and a qualifying service record.

Question 2

Do VA loans have higher rates than conventional?

Accepted Answer

No — VA rates typically run lower than conventional. Rates vary by borrower profile and market conditions, but VA borrowers usually see better pricing.

Question 3

What credit score do I need for each loan?

Accepted Answer

Most conventional lenders want 620 minimum. VA has no official minimum, but most lenders set a floor around 580 to 620.

Question 4

Is the VA funding fee worth paying?

Accepted Answer

Usually yes. Skipping PMI saves money every month. The funding fee is one-time and can be financed into the loan.

Question 5

Can I get a conventional loan with 3% down?

Accepted Answer

Yes, some programs allow 3% down. But you'll pay PMI monthly until you reach 20% equity in the home.

Question 6

Which loan closes faster in Hollister?

Accepted Answer

Both typically close in 21 to 30 days. VA appraisals can take slightly longer, but an experienced broker minimizes those delays.

Conventional vs VA Loans in Hollister, CA