Question 1

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

Accepted Answer

No. VA loans allow 100% financing with zero down payment. You only pay the funding fee, which gets rolled into the loan balance. No cash required at closing for the down payment.

Question 2

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

Accepted Answer

At 5.5% on a $750,000 loan, principal and interest run $4,258 per month. That's before taxes, insurance, and HOA fees. The scenario assumes 740 FICO, 30-year fixed, primary residence, locked 30 days.

Question 3

Do I need a disability rating to get a VA loan?

Accepted Answer

No. Any veteran with an honorable discharge and a Certificate of Eligibility can get a VA loan. A 10% or higher disability rating exempts you from the funding fee, but it's not required to qualify.

Question 4

How much does the funding fee cost?

Accepted Answer

First-time VA borrowers pay 2.15% on zero-down loans. On $750,000, that's $16,125. It gets financed into the loan, so you don't pay it upfront. Subsequent VA loans cost 3.3% unless you have a disability rating of 10% or higher.

Question 5

Can I use a VA loan to buy in Oakdale if I'm active duty?

Accepted Answer

Yes. Active duty service members, veterans, and surviving spouses with a Certificate of Eligibility can all use VA loans. You need an honorable discharge or current active duty status. Call to verify your eligibility.

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