Question 1

Do I need to be active duty to qualify for a VA loan?

Accepted Answer

No. Veterans, active-duty service members, National Guard, and surviving spouses with a Certificate of Eligibility all qualify. You need proof of service and a valid COE from the VA.

Question 2

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

Accepted Answer

At 5.5% APR on a $750,000 loan, principal and interest runs $4,258 monthly. That's before property taxes, insurance, and HOA fees. The rate shown is as of April 15, 2026, with 0.197 discount points ($1,478 upfront).

Question 3

Is the VA funding fee the same as PMI?

Accepted Answer

No. The funding fee is a one-time cost (2.15% on first-time use, about $16,125 on $750K) paid at closing. PMI is monthly. VA has no monthly insurance. Disabled veterans rated 10%+ are exempt from the funding fee.

Question 4

Can I use my VA loan benefit more than once?

Accepted Answer

Yes. You can reuse your VA benefit after you sell or refinance. Subsequent use carries a 3.3% funding fee instead of 2.15%. You can use it multiple times over your lifetime.

Question 5

What credit score do I need for a VA loan in Del Mar?

Accepted Answer

Most lenders require 620+ FICO minimum, but 740+ is preferred for the best rates. At 740 FICO, you'll qualify for the rates shown here. Lower scores may face higher rates or additional requirements.

VA 30-year fixed loans in Del Mar: zero down, no PMI, rates from 5.5%