Question 1

Do VA loans work for Portola Valley's high home prices?

Accepted Answer

Yes, through jumbo VA loans that exceed conforming limits. You still get zero down and no PMI. Lender requirements tighten slightly above standard VA limits.

Question 2

Will sellers accept VA offers in this competitive market?

Accepted Answer

Strong pre-approvals and quick timelines make VA offers competitive. Some sellers hesitate over appraisal requirements, but a good broker positions the offer properly.

Question 3

What credit score do I need for a Portola Valley VA loan?

Accepted Answer

Most lenders require 620 minimum. Jumbo VA loans typically need 640 or higher. Higher scores unlock better rates and smoother approvals.

Question 4

Can I use VA loans for Portola Valley properties with wells?

Accepted Answer

Yes, but the well needs testing to meet VA water quality standards. Budget extra time for inspections and potential remediation before closing.

Question 5

How do property taxes affect my VA loan qualification?

Accepted Answer

Lenders include full tax amounts in your debt-to-income ratio. Portola Valley's high taxes can limit buying power even with zero down payment.

VA Loans in Portola Valley: Zero Down in San Mateo's Elite Hillside Market