Question 1

Can I use a VA loan to buy in Monte Sereno?

Accepted Answer

Yes, if you meet VA service eligibility. VA loan limits in Santa Clara County are high enough to cover most purchases here.

Question 2

Do VA loans have mortgage insurance?

Accepted Answer

No. VA loans don't require monthly mortgage insurance. You pay a one-time funding fee instead, which can be rolled into the loan.

Question 3

What credit score do I need for a conventional loan?

Accepted Answer

Most lenders require at least 620. Better rates typically start at 740 and above.

Question 4

Can I use a conventional loan with less than 20% down?

Accepted Answer

Yes, but you'll pay private mortgage insurance monthly until you hit 20% equity. That adds to your payment.

Question 5

Which loan closes faster in Santa Clara County?

Accepted Answer

Conventional loans often close faster. VA loans require a VA appraisal, which can add a few days to the timeline.

Question 6

Can I have both a VA loan and a conventional loan?

Accepted Answer

Yes. If you have remaining VA entitlement, you can hold both loan types simultaneously. Talk to us about how entitlement works.

Conventional vs VA Loans in Monte Sereno, CA