Question 1

Can VA loans handle Palo Alto's $2M+ home prices?

Accepted Answer

Yes, VA has no loan limit for full entitlement borrowers. You can finance any Palo Alto property with zero down if you qualify.

Question 2

Do Palo Alto sellers reject VA offers?

Accepted Answer

Some do because VA appraisals take longer and flag repairs. Offering a quick appraisal contingency removal helps overcome seller hesitation.

Question 3

Which loan saves more money in Palo Alto long-term?

Accepted Answer

VA eliminates PMI and down payment costs. On a $1.5M purchase, that's $75K+ in upfront savings plus $4,500 annually in avoided PMI.

Question 4

Can I use conventional if I'm VA-eligible?

Accepted Answer

Absolutely. Veterans can choose conventional for faster closes or properties that won't pass VA appraisal standards. You're not required to use VA benefits.

Question 5

What credit score do I need for each loan type?

Accepted Answer

Conventional requires 620 minimum for competitive rates. VA accepts 580 with most lenders, though 620+ unlocks better pricing.

Conventional vs VA Loans in Palo Alto: Which Wins for Your Stanford-Area Home?