Question 1

Can I use a VA loan in Camarillo with no down payment?

Accepted Answer

Yes. Eligible borrowers can finance 100% of the purchase price. No down payment is required.

Question 2

What credit score do I need for a conventional loan?

Accepted Answer

Most lenders require at least 620. Scores above 740 get the best rates and terms.

Question 3

Does the VA loan have mortgage insurance?

Accepted Answer

No. VA loans never require PMI. You pay a one-time funding fee instead, which can be rolled into the loan.

Question 4

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

Accepted Answer

No. VA loans require owner occupancy. Use a conventional loan for investment properties.

Question 5

Which loan has lower rates — conventional or VA?

Accepted Answer

VA rates typically price lower. Rates vary by borrower profile and market conditions.

Question 6

Can I switch from conventional to VA if I'm already in escrow?

Accepted Answer

It depends on timing. Call us early — changing loan types mid-escrow is possible but needs quick action.

Conventional vs VA Loans in Camarillo, CA