Question 1

Can I use a VA loan in Riverbank?

Accepted Answer

Yes, as long as you meet VA eligibility and the property is your primary residence. Riverbank properties must pass a VA appraisal.

Question 2

Does VA always beat conventional on rate?

Accepted Answer

Usually yes. VA rates tend to run lower, and skipping PMI adds to the savings. Rates vary by borrower profile and market conditions.

Question 3

What credit score do I need for each?

Accepted Answer

Conventional typically requires 620 or higher. VA has no official minimum, but most lenders want at least 580-620.

Question 4

Can a veteran still choose a conventional loan?

Accepted Answer

Absolutely. Some veterans prefer conventional to avoid the VA funding fee or to purchase investment properties.

Question 5

What is the VA funding fee?

Accepted Answer

It's an upfront cost — typically 2.15% for first use. Veterans with a disability rating may have it waived entirely.

Question 6

Do both loans have the same loan limits in Stanislaus County?

Accepted Answer

VA has no loan limit for full-entitlement borrowers. Conventional conforming limits apply and vary by county.

Conventional vs VA Loans in Riverbank, CA