Question 1

Can I use a VA loan to buy a rural property in Corning?

Accepted Answer

Yes. VA loans work on eligible rural properties. The home must meet VA minimum property requirements, but Corning-area homes typically qualify.

Question 2

Does a VA loan have a loan limit in Tehama County?

Accepted Answer

Veterans with full entitlement have no loan limit. Reduced entitlement borrowers follow county conforming limits.

Question 3

What credit score do I need for a conventional loan?

Accepted Answer

Most lenders want at least 620. Better scores get better rates. Rates vary by borrower profile and market conditions.

Question 4

What is the VA funding fee?

Accepted Answer

It's a one-time fee the VA charges to sustain the program. It can be rolled into the loan. Disabled veterans are often exempt.

Question 5

Which loan closes faster in Corning?

Accepted Answer

Conventional loans often close slightly faster. VA loans need a VA appraisal, which can add a few days depending on appraiser availability.

Question 6

Can I have both a VA loan and a conventional loan at the same time?

Accepted Answer

Yes, under certain conditions. Remaining VA entitlement determines eligibility. Ask us to run the numbers on your specific situation.

Conventional vs VA Loans in Corning, CA