Question 1

Can I use a VA loan to buy in Los Altos with no down payment?

Accepted Answer

Yes. Borrowers with full VA entitlement have no loan limit. You can finance a Los Altos purchase with zero down.

Question 2

What credit score do I need for a conventional loan?

Accepted Answer

Lenders require a minimum 620 score for most conventional programs. Higher scores get better rates.

Question 3

Does VA or conventional have lower rates?

Accepted Answer

VA rates typically run lower than conventional. Rates vary by borrower profile and market conditions.

Question 4

What is the VA funding fee?

Accepted Answer

It's a one-time fee charged by the VA instead of monthly mortgage insurance. It can be rolled into the loan balance.

Question 5

Is PMI required on a conventional loan in Los Altos?

Accepted Answer

Only if you put down less than 20%. Hit 20% equity and you can request PMI removal.

Question 6

Can I qualify for both loan types?

Accepted Answer

Yes, if you have VA eligibility and meet conventional standards. Compare total costs — the better deal depends on your down payment and timeline.

Conventional vs VA Loans in Los Altos, CA