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in Fairfax, CA
Fairfax sits in Marin County's restaurant renaissance, with acclaimed chefs opening new ventures in nearby Point Reyes Station. Buyers here face a classic choice: put down 20% on a conventional loan, or use VA eligibility to buy with zero down.
The 2026 conforming limit for Fairfax is $1,249,125. Both conventional and VA loans work up to that ceiling, but they split on down payment, insurance costs, and monthly payment.
Conventional at 6.25% works when you have the down payment saved. At 20% down on a $937,500 purchase, the monthly P&I is $4,618 with zero PMI.
Conventional requires 740+ FICO and documented income. Lenders want two years of work history and reserves beyond the down payment.
VA at 5.75% lets eligible veterans and active-duty service members skip the down payment entirely. On a $750,000 purchase with zero down, the monthly P&I is $4,377 plus the funding fee.
VA requires a Certificate of Eligibility and 740+ FICO. The funding fee is 2.15% of the loan amount on first use with zero down; it rolls into the loan balance.
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 Fairfax.
Fairfax sits in Marin County's restaurant renaissance, with acclaimed chefs opening new ventures in nearby Point Reyes Station. Buyers here face a classic choice: put down 20% on a conventional loan, or use VA eligibility to buy with zero down.
The 2026 conforming limit for Fairfax is $1,249,125. Both conventional and VA loans work up to that ceiling, but they split on down payment, insurance costs, and monthly payment.
Conventional at 6.25% works when you have the down payment saved. At 20% down on a $937,500 purchase, the monthly P&I is $4,618 with zero PMI.
Conventional demands a down payment; VA does not. Conventional at 20% down puts $187,500 on the table upfront. VA lets you keep that cash and roll the funding fee into the loan instead.
The rate gap favors VA: 5.75% beats 6.25% by half a point. On identical loan amounts, that cuts the monthly payment by roughly $240. VA wins on rate and down payment, but conventional avoids the funding fee.
Choose conventional if you have solid savings and want to avoid the funding fee. Buyers with $150,000+ in reserves and a stable W-2 job fit here. The 20% down payment keeps the loan smaller and avoids VA's funding fee cost.
Choose VA if you're eligible and want to preserve cash. Veterans and active-duty service members with 740+ FICO should use the zero-down benefit. The lower rate and zero down payment outweigh the funding fee for most qualified buyers.
Yes. At 80% LTV (20% down), conventional loans carry zero PMI. Below 80% LTV, PMI applies and cancels automatically at 78% LTV per the Homeowners Protection Act.
The funding fee is 2.15% of the loan amount on first use with zero down. It's waived only for veterans with a 10% or higher VA disability rating. The fee rolls into the loan balance.
VA at 5.75% produces a $4,377 monthly P&I on a $750,000 zero-down purchase. Conventional at 6.25% produces $4,618 on a $937,500 purchase with 20% down. The VA rate is lower, but the loan amounts differ.
Conventional loans typically require 740+ FICO for the best rates and terms. Scores below 740 may qualify but face higher rates and stricter down-payment rules. Check with your lender for exact minimums.
VA loans are available to eligible veterans, active-duty service members, National Guard members with federal service, and surviving spouses. You'll need a Certificate of Eligibility from the VA to apply.