Question 1

Can I use a VA loan in Manteca with no down payment?

Accepted Answer

Yes. Eligible veterans can purchase in Manteca with zero down. There's no loan limit if you have full VA entitlement.

Question 2

Does VA or conventional have lower rates in San Joaquin County?

Accepted Answer

VA rates typically run lower than conventional. Rates vary by borrower profile and market conditions.

Question 3

Do I pay mortgage insurance on a VA loan?

Accepted Answer

No. VA loans have no PMI. You pay a one-time funding fee instead, which can be rolled into the loan.

Question 4

What credit score do I need for a conventional loan?

Accepted Answer

Most lenders require 620 minimum. Better rates kick in around 740 and above.

Question 5

Can I get a conventional loan with 3% down in Manteca?

Accepted Answer

Yes, but you'll pay PMI until you reach 20% equity. First-time buyer programs can help cover the gap.

Question 6

What is the VA funding fee and who pays it?

Accepted Answer

It's a one-time government fee, typically 1.25–3.3% of the loan. Disabled veterans are usually exempt.

Conventional vs VA Loans in Manteca, CA