Question 1

Can I use a VA loan to buy a rental property in Porterville?

Accepted Answer

No. VA loans are for primary residences only. Investment properties require conventional or other financing.

Question 2

Do VA loans take longer to close than conventional?

Accepted Answer

They can. VA requires a property appraisal by a VA-approved appraiser. Build that timeline into your offer.

Question 3

What is the VA funding fee?

Accepted Answer

It's a one-time fee paid to the VA in place of mortgage insurance. The amount depends on your down payment and service history.

Question 4

Can I have both a VA loan and a conventional loan?

Accepted Answer

Yes. Veterans can carry a conventional loan on one property and use VA entitlement on another primary residence.

Question 5

Which loan has stricter appraisal requirements?

Accepted Answer

VA appraisals are stricter. The property must meet VA minimum property requirements. Conventional appraisals are less prescriptive.

Question 6

Is there a loan limit for VA loans in Tulare County?

Accepted Answer

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

Conventional vs VA Loans in Porterville, CA