Question 1

Can I use a VA loan to buy a rental property in Yucaipa?

Accepted Answer

No. VA loans require the home to be your primary residence. Use a conventional loan for investment properties.

Question 2

Do VA loans have a loan limit in San Bernardino County?

Accepted Answer

Veterans with full entitlement have no VA loan limit. Reduced entitlement may apply if you have an active VA loan.

Question 3

What is the VA funding fee?

Accepted Answer

It's an upfront fee rolled into the loan. The amount depends on your down payment and whether it's your first VA loan. Some veterans are exempt.

Question 4

Which loan has the lower credit score requirement?

Accepted Answer

VA guidelines don't set a minimum, but most lenders want at least 580-620. Conventional requires 620 minimum.

Question 5

Can I switch from conventional to VA after closing?

Accepted Answer

You can refinance into a VA loan later if you're eligible. A VA IRRRL isn't available if your current loan is conventional — you'd do a VA cash-out refinance instead.

Conventional vs VA Loans in Yucaipa, CA