Question 1

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

Accepted Answer

Yes. VA loans work on eligible rural and suburban properties. The home must meet VA minimum property requirements.

Question 2

What credit score do I need for each loan?

Accepted Answer

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

Question 3

Does VA charge mortgage insurance?

Accepted Answer

No monthly insurance — ever. VA charges a one-time funding fee at closing instead.

Question 4

Can I buy a rental property with a VA loan?

Accepted Answer

No. VA loans require owner occupancy. For investment properties, you need a conventional loan.

Question 5

Which loan has lower rates right now?

Accepted Answer

VA rates typically run lower than conventional. Rates vary by borrower profile and market conditions.

Question 6

What is the VA funding fee?

Accepted Answer

It's a one-time upfront fee paid at closing. The amount depends on your down payment and prior VA loan use.

Conventional vs VA Loans in Jamestown, CA