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San Francisco is one of the most expensive housing markets in the country. VA loans give eligible veterans a real edge here — no down payment required.
Most buyers in SF need six figures just to get to the closing table. Veterans with VA eligibility skip that hurdle entirely.
Below conventional
Typical VA Rate
0%
Down Payment
620 (common)
Min Credit Score
None (full entitlement)
Loan Limit
$0
Monthly PMI
Yes, if disabled vet
Funding Fee Exempt?
VA Loans in San Francisco
You need a Certificate of Eligibility (COE) from the VA. Most lenders also want a 620 credit score, though some go lower.
No private mortgage insurance (PMI) is required. That saves hundreds per month compared to FHA or conventional loans with low down payments.
Local decision guide
Use this guide to connect va loans eligibility, lender expectations, and local market factors before comparing payment options in San Francisco.
San Francisco is one of the most expensive housing markets in the country. VA loans give eligible veterans a real edge here — no down payment required.
Most buyers in SF need six figures just to get to the closing table. Veterans with VA eligibility skip that hurdle entirely.
You need a Certificate of Eligibility (COE) from the VA. Most lenders also want a 620 credit score, though some go lower.
Not every lender works VA loans well. Some charge overlays — stricter rules on top of VA guidelines — that kill deals unnecessarily.
As a broker with access to 200+ wholesale lenders, we find VA-specialist investors who price these loans competitively for SF borrowers.
The VA funding fee trips up a lot of borrowers. First-time VA users pay 2.15% of the loan amount — but disabled veterans are exempt.
In SF, sellers sometimes hesitate on VA offers due to appraisal requirements. A strong pre-approval letter and experienced agent close that gap.
FHA requires 3.5% down and charges mortgage insurance for the life of the loan. VA costs nothing down and skips PMI entirely.
Conventional loans let you drop PMI once you hit 20% equity. In SF, that could take years. VA borrowers never pay it at all.
San Francisco County properties must meet VA Minimum Property Requirements (MPRs). Older Victorian and Edwardian homes sometimes need repairs before closing.
Condos are trickier. The VA maintains an approved condo list. Many SF condo buildings are not on it — verify before you fall in love with a unit.
Veterans with full entitlement have no VA loan limit. You can borrow what the lender approves based on your income and credit.
Most borrowers do. First-time VA users pay 2.15% of the loan amount. Disabled veterans with a service-connected rating are typically exempt.
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.
VA wins on cost — no down payment, no PMI, and typically lower rates. FHA requires 3.5% down and charges mortgage insurance monthly.
Most will. Some hesitate due to VA appraisal requirements. A strong pre-approval and an experienced agent address that concern directly.
The VA itself sets no minimum. Most lenders require 620. Some wholesale lenders go lower — that's where a broker can help.