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in Ross, CA
Ross sits among Marin's most exclusive enclaves, where properties demand serious mortgage strategy. VA loans offer zero-down financing for eligible veterans, while conventional loans give civilians the only path to purchase.
The choice between these two mortgages hinges on your military status, available cash, and property type. Both work for Ross homes, but the approval process and costs differ sharply.
Conventional loans require 3% down minimum, though most Ross buyers put 20% down to avoid PMI on higher-priced homes. Credit score minimums start at 620, but you'll need 700+ for competitive rates on properties in this price range.
These mortgages work for any property type Ross offers — single-family estates, investment properties, second homes. Lenders cap your debt-to-income ratio at 43-50%, depending on compensating factors like cash reserves or high credit scores.
Rates vary by borrower profile and market conditions. Larger down payments unlock better pricing, and you can cancel PMI once you hit 20% equity through payments or appreciation.
VA loans eliminate the down payment entirely for eligible veterans and active-duty service members. You pay a funding fee instead of PMI — 2.3% for first-time zero-down users, though disabled veterans get this waived completely.
Credit requirements run more lenient than conventional, with many lenders approving 580+ scores. VA allows higher debt ratios than conventional, often accepting 50%+ DTI when residual income supports it.
The VA sets no maximum loan amount, but counties have conforming limits that affect your funding fee. Sellers can pay up to 4% toward your closing costs, and you can finance the funding fee into the loan balance.
The down payment split defines everything. VA asks for nothing upfront, while conventional demands 3-20% cash at closing. On a Ross home, that difference represents six figures in liquidity requirements.
VA charges a one-time funding fee instead of monthly PMI. Conventional buyers pay PMI monthly until they reach 20% equity, adding $200-400 monthly on typical loan amounts. VA's funding fee gets financed in, so you never write that check.
Property standards diverge sharply. VA requires homes to meet strict condition standards — no peeling paint, all systems functional, proper ventilation. Conventional lenders care less about cosmetics and focus on structural soundness and appraisal value.
Eligibility creates the final barrier. VA loans exist only for veterans, active military, and qualifying spouses. Conventional loans serve everyone else, no service record required.
Choose VA if you're eligible — period. The zero-down benefit and competitive rates outweigh any drawbacks for most veterans buying a primary residence. Even with the funding fee, you preserve capital for reserves, renovations, or investments.
Go conventional if you're not military-eligible, buying investment property, or purchasing a fixer that won't pass VA inspection. Conventional also makes sense if you're disabled military with VA waiver but have 20% down — you avoid both PMI and funding fees.
For Ross specifically, both loans handle the higher price points common here. VA loans have no maximum, and conventional conforming limits in Marin support loans up to $1,149,825 before you enter jumbo territory with different terms.
Only properties that pass VA inspection standards and serve as your primary residence. Investment properties and some fixers won't qualify.
No, minimum is 3% down. You'll pay PMI below 20%, but many buyers choose larger down payments to avoid it.
VA typically offers slightly lower rates due to government backing. Rates vary by borrower profile and market conditions.
Yes, if you're receiving VA disability compensation. Otherwise, the fee applies but can be financed into your loan.
Some do, since VA inspections add requirements. Strong pre-approval and quick closing timelines matter more than loan type.
Many lenders approve 580+ credit for VA loans. Conventional typically needs 620 minimum, 700+ for best pricing.