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in Union City, CA
Union City homes in the $750,000 range sit right at the conforming limit. Conventional and VA loans both work here, but they solve different problems. Conventional requires a down payment; VA doesn't.
The Alameda County median household income is $126,240. That income supports either program, but your savings and military status drive the choice.
Conventional at 6.25% works when you have substantial savings. At 80% LTV the payment is $4,618 monthly with no PMI.
Underwriting wants documented income and two years of work history. You'll need reserves beyond the down payment.
VA at 5.75% opens the door with zero down. The monthly payment is $4,377 with a funding fee rolled into the loan.
You must have a Certificate of Eligibility and a 10% or higher VA disability rating to skip the funding fee. Without that rating, the fee is 2.15% of the loan.
Local decision guide
Use this comparison to weigh Conventional Loans and VA Loans through local payment fit, eligibility, documentation, and timing before choosing a path in Union City.
Union City homes in the $750,000 range sit right at the conforming limit. Conventional and VA loans both work here, but they solve different problems. Conventional requires a down payment; VA doesn't.
The Alameda County median household income is $126,240. That income supports either program, but your savings and military status drive the choice.
Conventional at 6.25% works when you have substantial savings. At 80% LTV the payment is $4,618 monthly with no PMI.
Conventional demands 20% down to avoid PMI; VA demands nothing. That $187,500 gap is the defining structural difference between these two programs.
VA's rate is 0.5% lower because the funding fee protects the lender. Conventional's PMI protects the lender too, but it cancels at 80% LTV. VA's funding fee stays in the loan forever.
Pick conventional if you have $187,500 saved and want PMI to disappear. You'll own 20% equity immediately and skip mortgage insurance forever.
Pick VA if you're military-eligible and short on cash. Zero down means keeping savings intact while buying now.
No. VA buyers put zero down. Conventional buyers typically put 5% to 20% down. Less than 20% means PMI until you hit 80% LTV.
Conventional at 6.25% is $4,618 monthly on a $750,000 loan. VA at 5.75% is $4,377 monthly on the same loan. VA saves $241 per month.
No. The funding fee stays in the loan for the life of the loan. PMI on conventional cancels once you reach 80% LTV.
Yes. You can get a VA loan without a disability rating. The funding fee is 2.15% of the loan. With a 10% or higher rating, the fee is waived.
VA wins if you're military-eligible and short on cash. Conventional wins if you have $187,500 saved and want PMI to end.