Question 1

Do I need a Certificate of Eligibility to get a VA loan in Capitola?

Accepted Answer

Yes. You must provide a Certificate of Eligibility proving active duty, veteran, or surviving-spouse status. The VA issues it free at VA.gov. Without it, you cannot qualify for a VA loan.

Question 2

What's the monthly payment on a $750,000 VA loan in Capitola?

Accepted Answer

At 5.5% interest on a $750,000 purchase with zero down, principal and interest run $4,258 monthly. Add property taxes, insurance, and HOA fees if applicable. This scenario assumes 740 FICO, primary residence, 30-day lock, dated April 9, 2026.

Question 3

Do I have to pay a funding fee on a VA loan?

Accepted Answer

Yes, unless you're rated 10% or higher for VA disability. First-time use funding fee is 2.15% of the loan amount—about $15,975 on a $750,000 loan. It rolls into your balance, so you don't pay it upfront.

Question 4

Can I use a VA loan to buy a second home in Capitola?

Accepted Answer

No. VA loans are for primary residences only. If you want to buy a second home or investment property in Capitola, you'd need a conventional or FHA loan instead.

Question 5

What credit score do I need for a VA loan in Capitola?

Accepted Answer

Minimum is typically 620 FICO. At 740 FICO, you get the best rates and terms. Lenders care more about stable income and clean recent credit than reserves, since you're putting zero down.

VA 30-Year Fixed Mortgages in Capitola: Zero Down for Veterans