Question 1

Can I use a VA loan in Lathrop, CA?

Accepted Answer

Yes. VA loans work in Lathrop with no county-specific restrictions. You need valid VA entitlement and the property must be your primary residence.

Question 2

Do VA loans have higher rates than conventional?

Accepted Answer

No — VA rates typically run lower. Lenders take less risk with the government guarantee, so they price VA loans more aggressively.

Question 3

What credit score do I need for a conventional loan?

Accepted Answer

Most lenders require a 620 minimum. Better scores get better rates — 740+ puts you in the top pricing tier.

Question 4

Does a VA loan require mortgage insurance?

Accepted Answer

No monthly mortgage insurance with VA. You pay a one-time funding fee at closing instead — some veterans are exempt entirely.

Question 5

Which loan has lower upfront costs?

Accepted Answer

VA usually wins on upfront cash. Zero down and no PMI offset the funding fee for most eligible borrowers compared to conventional options.

Question 6

Can I get a conventional loan with less than 20% down?

Accepted Answer

Yes, some conventional programs allow as little as 3% down. You'll pay PMI until you reach 20% equity in the home.

Conventional vs VA Loans in Lathrop, CA