Question 1

Can I use a VA loan on a Morro Bay condo?

Accepted Answer

Yes if the complex is VA-approved. Most waterfront buildings qualify but HOA financials need review first.

Question 2

What's the VA funding fee in California?

Accepted Answer

2.15% for first-time use with zero down. Disabled veterans and some surviving spouses pay nothing.

Question 3

Do VA loans work for fixer-uppers near the harbor?

Accepted Answer

Only if the property passes VA appraisal as-is. Major repairs kill VA financing until work completes.

Question 4

Can I buy investment property with a VA loan?

Accepted Answer

No. VA loans require you occupy the home as primary residence within 60 days of closing.

Question 5

How long does VA approval take in Morro Bay?

Accepted Answer

Three to four weeks from application to closing. Condo approval adds time if building isn't pre-approved.

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