Loading
in Gridley, CA
Gridley buyers have a real choice to make. Conventional and VA loans serve different borrowers — and picking the wrong one costs money.
VA loans reward military service with zero down. Conventional loans offer flexibility for borrowers who don't qualify for VA benefits.
Conventional loans aren't backed by any government agency. That means lenders set stricter standards — typically 620+ credit and 3-20% down.
The upside is flexibility. You can use a conventional loan on primary homes, second homes, or investment properties with no service requirement.
VA loans are guaranteed by the Department of Veterans Affairs. Eligible veterans and active-duty members can buy with zero down and no PMI.
The VA doesn't set a minimum credit score. Most lenders in our network want to see 580-620, but the terms are still hard to beat.
HousingWire flagged the 30-year fixed rate at 6.57% with applications dropping sharply. VA loans typically price below that — a real edge for eligible Gridley buyers. Rates vary by borrower profile and market conditions.
PMI is the hidden cost most buyers overlook. Conventional borrowers putting down less than 20% pay it monthly. VA borrowers never do — that difference adds up fast over 30 years.
If you served and you're buying a primary home in Gridley, use your VA benefit. The zero-down and no-PMI combination is almost impossible to beat.
If you're a non-veteran, a second-home buyer, or an investor, conventional is your path. It's also worth running both scenarios if you have 20% down and strong credit.
No. VA loans require the property to be your primary residence. Rental or investment use requires a conventional loan.
It's a one-time fee paid at closing, typically 1.25-3.3% of the loan. It replaces PMI and can be rolled into the loan.
Yes. Conforming loan limits apply. Anything above those limits requires a jumbo loan with stricter qualifying standards.
Conventional loans often close faster. VA loans require a VA appraisal, which can add time depending on appraiser availability.
Yes, in some cases. Remaining VA entitlement and conventional qualifying standards both factor in. Ask us to run the numbers.