Question 1

Can I use a VA loan on a second home in Atascadero?

Accepted Answer

No. VA loans require you to occupy the property as your primary residence within 60 days of closing. Investment properties and vacation homes don't qualify under VA guidelines.

Question 2

What if I already used my VA loan benefit once?

Accepted Answer

You can reuse your benefit after selling the first home or paying off that loan. Some veterans have remaining entitlement for a second simultaneous VA loan if the first didn't use the full amount.

Question 3

Do I need a down payment for homes above the conforming limit?

Accepted Answer

Not necessarily. The VA guarantees loans up to the conforming limit with zero down. Above that, most lenders require 25% down on the amount exceeding the limit.

Question 4

How long does VA loan approval take in San Luis Obispo County?

Accepted Answer

Most VA loans close in 30 days once we have your Certificate of Eligibility. Order your COE from the VA early—it takes 3-7 days online, longer by mail.

Question 5

Can I waive the VA appraisal in a competitive market?

Accepted Answer

No. The VA requires an appraisal on every purchase to protect you from overpaying. You cannot waive it like some conventional buyers do with appraisal contingencies.

VA Loans in Atascadero: Zero Down for Veterans on the Central Coast