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Milpitas sits at the heart of Silicon Valley, where home prices push most buyers toward large down payments. VA loans cut that barrier entirely — no down payment required.
Santa Clara County is one of the priciest markets in California. VA eligibility here is a serious financial advantage, not just a checkbox benefit.
0%
Down Payment
620 (typical)
Min Credit Score
None
Mortgage Insurance
2.15% (typical)
Funding Fee (1st use)
Government-Guaranteed
Loan Type
VA Loans in Milpitas
You need a Certificate of Eligibility — the VA's proof you've met service requirements. Most lenders want a 620 credit score, though some go lower.
Debt-to-income ratio matters. Most VA lenders cap it at 41%, but strong residual income can override that. Residual income means what's left after all bills are paid.
Local decision guide
Use this guide to connect va loans eligibility, lender expectations, and local market factors before comparing payment options in Milpitas.
Milpitas sits at the heart of Silicon Valley, where home prices push most buyers toward large down payments. VA loans cut that barrier entirely — no down payment required.
Santa Clara County is one of the priciest markets in California. VA eligibility here is a serious financial advantage, not just a checkbox benefit.
You need a Certificate of Eligibility — the VA's proof you've met service requirements. Most lenders want a 620 credit score, though some go lower.
Not every lender handles VA loans well. Some approve the loan but fumble the VA appraisal process, which has stricter property condition rules than conventional.
We work with 200+ wholesale lenders, including specialists in VA high-balance loans. That matters in Milpitas, where loan amounts often exceed standard conforming limits.
The VA funding fee trips up a lot of buyers. It's a one-time cost — typically 2.15% for first use — rolled into the loan. Disabled veterans are exempt.
Sellers in Milpitas sometimes hesitate on VA offers due to appraisal concerns. A broker who knows how to write a clean offer helps you compete against conventional buyers.
FHA requires 3.5% down and charges mortgage insurance for the loan's life. VA has no mortgage insurance and no down payment — it's a stronger product if you qualify.
Conventional loans at 5% down in Milpitas means tens of thousands of dollars upfront. VA lets you keep that cash in reserves, which strengthens your financial position.
Santa Clara County's high costs mean you'll likely need a VA high-balance loan. These follow the county's conforming loan limits, which are above the national baseline.
Milpitas has a significant veteran and active-duty population tied to nearby bases and defense contractors. Lenders here see VA deals regularly — that familiarity helps at closing.
Yes. VA loans require zero down payment. In a high-cost area like Milpitas, that's a major advantage over FHA or conventional options.
It's a VA loan above the standard conforming limit. Santa Clara County qualifies for higher limits, which matters given Milpitas home prices.
Not necessarily. A lender experienced with VA appraisals keeps timelines tight. The appraisal process is the most common source of delays.
Most lenders require 620. Some wholesale lenders we work with go lower, depending on your full financial profile. Rates vary by borrower profile and market conditions.
No. Veterans with a service-connected disability rating are exempt. All others pay it, but it can be rolled into the loan amount.
Yes, eligible surviving spouses qualify for VA loans. You'll need a Certificate of Eligibility showing your entitlement status.