Question 1

Can I use a VA loan for a Sunnyvale condo?

Accepted Answer

Yes, if the complex has VA approval. Many Sunnyvale condos qualify, but HOA reserves and owner-occupancy ratios must meet VA standards.

Question 2

How much does PMI cost on a conventional loan here?

Accepted Answer

PMI typically runs 0.3-1.5% annually based on credit score and down payment. On $800k with 5% down, expect $300-600 monthly.

Question 3

Do VA loans take longer to close in Sunnyvale?

Accepted Answer

Not materially. Both typically close in 25-35 days. VA appraisals add 2-3 days but the funding fee simplifies other steps.

Question 4

Can I combine VA and conventional financing?

Accepted Answer

No, you must choose one loan type. Some buyers use VA for primary residence and conventional for investment properties later.

Question 5

What if my Sunnyvale purchase exceeds $806,500?

Accepted Answer

VA allows borrowing above the limit with 25% down on the excess. Conventional becomes jumbo with stricter credit and reserve requirements.

Question 6

Should I wait for rate cuts to refinance?

Accepted Answer

Rates near four-year lows as of February 2026 may represent the bottom for now. Lock savings when the spread justifies closing costs.

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