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in Novato, CA
Novato sits in one of California's priciest counties. The loan you choose affects your rate, down payment, and monthly cost.
VA loans give eligible veterans a real edge here. Conventional loans serve everyone else — but the tradeoffs are real.
Conventional loans aren't backed by the government. Lenders set terms based on your credit, income, and down payment.
Put down 20% and you skip private mortgage insurance. Less than that, and PMI adds to your monthly cost.
HousingWire flagged the 30-year fixed hitting 6.57% — that directly affects what Novato buyers can afford on conventional financing. Rates vary by borrower profile and market conditions.
VA loans are guaranteed by the Department of Veterans Affairs. Eligible borrowers include veterans, active-duty members, and surviving spouses.
No down payment required. No PMI ever. VA rates typically run below conventional — a meaningful advantage in Marin County.
There is a funding fee, usually rolled into the loan. Disabled veterans are often exempt from it.
The biggest gap is eligibility. VA loans are only for eligible service members and veterans. Conventional loans are open to any qualified borrower.
On cost, VA wins for those who qualify. No PMI and lower rates save real money each month in a high-price market like Novato.
Conventional loans have no property occupancy restriction beyond standard guidelines. VA loans require the property to be your primary residence.
If you have VA eligibility, use it. Especially in Novato, where home prices demand every cost advantage you can get.
Conventional makes sense if you don't qualify for VA — or if you're buying a second home, investment property, or want more flexibility.
Veterans with strong credit and 20% down might compare both options. The rate difference may be smaller than you think at that profile.
Yes. Eligible veterans can buy in Novato with no down payment. VA loans have no loan limit for full entitlement borrowers.
No PMI on VA loans — ever. You pay a one-time funding fee instead, which is often rolled into the loan balance.
Most lenders want at least 620. Better rates start at 740 and above.
No. VA loans require the property to be your primary residence. Use conventional financing for rentals.
VA rates typically run lower. Rates vary by borrower profile and market conditions, so always compare both.
Yes, in some cases. Remaining VA entitlement and conventional qualifying income both factor in. Ask us to run the numbers.