Question 1

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

Accepted Answer

No. VA loans require zero down payment. You borrow the full purchase price. The funding fee (2.15% for first-time use) is rolled into the loan amount, so you don't pay it upfront.

Question 2

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

Accepted Answer

At 5.5% interest with 0.197 discount points ($1,478 cost), principal and interest run $4,258 monthly on a $750,000 loan. Property taxes, insurance, and HOA fees are separate.

Question 3

Can I get a VA loan if I'm a disabled veteran?

Accepted Answer

Yes. If you have a 10% or higher VA disability rating, your funding fee is waived entirely. That saves roughly $16,125 on a $750,000 loan. You'll need your Certificate of Eligibility from the VA.

Question 4

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

Accepted Answer

Most lenders require 740+ FICO, though some go down to 620 with compensating factors. The higher your score, the better your rate. At 740 FICO, you're in solid territory.

Question 5

Is VA financing available for investment property or a second home?

Accepted Answer

No. VA loans are for primary residence only. You must occupy the home as your main residence. Investment properties and vacation homes don't qualify.

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