Question 1

Can I use a VA loan to buy in Scotts Valley?

Accepted Answer

Yes, if you meet eligibility requirements. VA removed county loan limits for full-entitlement borrowers, so high prices in Santa Cruz County aren't a ceiling.

Question 2

Does a VA loan charge mortgage insurance?

Accepted Answer

No. VA loans have no PMI. 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 want at least 620. Better rates start showing up around 740 and above.

Question 4

Can I use a VA loan for an investment property?

Accepted Answer

No. VA loans require owner occupancy. Investment properties need conventional or other non-government financing.

Question 5

Which loan has lower rates in Scotts Valley?

Accepted Answer

VA loans typically carry lower rates than conventional. Rates vary by borrower profile and market conditions — call us for a real quote.

Question 6

What is the VA funding fee?

Accepted Answer

It's a one-time fee charged by the VA, based on your down payment and usage. Most borrowers roll it into the loan balance.

Conventional vs VA Loans in Scotts Valley, CA