Question 1

Do I need to put money down on a VA loan?

Accepted Answer

No — zero down is the entire point of VA loans. You pay a funding fee (2.15% for first-time use) that rolls into the loan. No cash down, no PMI, no down-payment savings required.

Question 2

What's my monthly payment on a $750,000 VA loan?

Accepted Answer

At 5.5% with zero down, principal and interest run $4,258 per month. Add property taxes, insurance, and HOA if applicable. The funding fee of 0.197 points ($1,478) rolls into the loan balance.

Question 3

Can I get a VA loan with a 700 FICO score?

Accepted Answer

No — most lenders require 740 FICO minimum for VA loans. Some portfolio lenders go to 720 with compensating factors, but 740 is the standard floor in California.

Question 4

What happens if I'm a disabled veteran?

Accepted Answer

If you have a 10% or higher VA disability rating, you're exempt from the funding fee. That saves 2.15% upfront — $16,125 on a $750K loan. Purple Heart recipients and surviving spouses are also exempt.

Question 5

How long does a VA loan close take?

Accepted Answer

Typically 30–45 days in California. The VA appraisal takes 10–14 days and can't be rushed. Most delays come from the appraisal or title issues, not the lender.

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