Question 1

Can I use a VA loan for homes above conforming limits in San Carlos?

Accepted Answer

Yes. San Mateo County is designated high-cost, allowing VA loans well above standard limits without down payments. Veterans with full entitlement can finance eligible properties at any price point.

Question 2

Do VA appraisals cause problems with San Carlos sellers?

Accepted Answer

Modern VA appraisals focus on safety issues, not cosmetic repairs. Most San Carlos homes pass without problems. Experienced agents understand VA standards and rarely discourage veteran buyers.

Question 3

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

Accepted Answer

Most lenders require 580-620 minimum scores. Some approve lower scores with strong compensating factors like high income or cash reserves. Rates vary by borrower profile and market conditions.

Question 4

Can I buy a condo in San Carlos with a VA loan?

Accepted Answer

Yes, if the complex appears on the VA's approved condominium list. Your lender can verify approval status. Single-family homes and approved townhomes have fewer restrictions.

Question 5

How much are VA funding fees in California?

Accepted Answer

Fees range from 1.4% to 3.6% based on down payment and prior VA loan use. Veterans with service-connected disabilities are exempt. The fee can be financed into the loan amount.

VA Loans in San Carlos: Zero Down Payment Home Financing for Veterans and Service Members