Question 1

Is there a loan limit on VA loans in San Francisco?

Accepted Answer

Veterans with full entitlement have no VA loan limit. You can borrow what the lender approves based on your income and credit.

Question 2

Do I pay a funding fee on a VA loan?

Accepted Answer

Most borrowers do. First-time VA users pay 2.15% of the loan amount. Disabled veterans with a service-connected rating are typically exempt.

Question 3

Can I use a VA loan to buy a condo in San Francisco?

Accepted Answer

Only if the condo project is VA-approved. Many SF buildings are not on the list. Check the VA's condo database before making an offer.

Question 4

How does a VA loan compare to FHA in San Francisco?

Accepted Answer

VA wins on cost — no down payment, no PMI, and typically lower rates. FHA requires 3.5% down and charges mortgage insurance monthly.

Question 5

Will SF sellers accept VA loan offers?

Accepted Answer

Most will. Some hesitate due to VA appraisal requirements. A strong pre-approval and an experienced agent address that concern directly.

Question 6

What credit score do I need for a VA loan in San Francisco?

Accepted Answer

The VA itself sets no minimum. Most lenders require 620. Some wholesale lenders go lower — that's where a broker can help.

VA Loans in San Francisco: Zero Down in a High-Cost Market