Question 1

Can I use a VA loan for a Colma condo or townhome?

Accepted Answer

Yes, but the complex must appear on VA's approved condo list. Most Colma condos aren't pre-approved, requiring your lender to submit the project for certification, which adds 30-45 days to closing timelines.

Question 2

What credit score do I need for a VA loan in San Mateo County?

Accepted Answer

Most lenders require 580-620 minimum, though you'll access better rates and more lender options above 640. Veterans with scores below 600 face fewer willing lenders but can still qualify.

Question 3

Do VA loans work for Colma's higher-priced homes?

Accepted Answer

Yes. San Mateo County has no VA loan limit for veterans with full entitlement, letting you finance expensive properties with zero down. Rates vary by borrower profile and market conditions.

Question 4

How does the VA funding fee work in California?

Accepted Answer

First-time users pay 2.15% with zero down, added to your loan balance. Disabled veterans rated 10% or higher pay nothing. Subsequent use increases the fee to 3.3% unless you put money down.

Question 5

Can sellers refuse VA loan offers in Colma?

Accepted Answer

Sellers can choose any offer they want. Some worry VA appraisals will kill deals, but experienced agents know VA financing brings qualified buyers who close reliably in competitive markets.

VA Loans in Colma: Zero Down for Veterans in San Mateo County