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in Tiburon, CA
Tiburon's waterfront estates and hillside properties command premium prices. Most buyers here choose between conventional financing and VA loans if they qualify.
The right choice depends on your military service status and financial profile. Both work well in Marin's competitive market, but they play by different rules.
Conventional loans are the standard mortgage choice for most Tiburon buyers. They require 3-20% down depending on your loan amount and property type.
You'll need a credit score of at least 620, though 700+ gets you better rates. Lenders cap your debt-to-income ratio around 50% after compensating factors.
These loans work for primary homes, vacation properties, and investment purchases. You can finance up to $1,149,825 in Marin County without hitting conforming limits.
VA loans let eligible veterans and service members buy in Tiburon with zero down. The VA guarantees part of the loan, so lenders accept lower equity positions.
You'll pay a funding fee (1.4-3.6% of loan amount) unless you're disabled or receiving disability compensation. No monthly mortgage insurance required at any down payment level.
Credit requirements are flexible—many lenders approve 580 scores. The property must be your primary residence and meet VA minimum property requirements.
Down payment drives the biggest distinction. VA borrowers can finance 100% while conventional buyers need at least 3% down—on a $2 million Tiburon home, that's $60,000 minimum.
Mortgage insurance works differently too. Conventional loans require PMI until you hit 20% equity. VA loans charge an upfront funding fee but skip monthly insurance entirely.
Property requirements matter in Tiburon's older housing stock. VA appraisers flag issues conventional underwriters ignore—things like peeling paint or missing handrails kill VA deals.
Use your VA benefit if you have it and plan to live in the home. Zero down and no PMI save significant money, especially on Tiburon's high price points.
Choose conventional if you're buying a second home, vacation property, or fixer-upper. You'll also get better reception from listing agents who worry about VA appraisal requirements.
Some buyers blend both—use VA for a primary residence, then keep it as a rental while buying the next home conventional. Your certificate of eligibility shows remaining entitlement.
Yes, if the complex is VA-approved. Most established Tiburon condos qualify, but the HOA must meet VA requirements for reserves and owner-occupancy ratios.
Many do, especially if you're pre-approved and waive appraisal gaps. Some sellers hesitate due to property condition requirements, but strong offers overcome this.
Conventional loans typically require 620 minimum, though 700+ gets best pricing. VA lenders often approve 580+ scores with strong compensating factors.
Yes if you receive VA disability compensation or are a surviving spouse. Otherwise, the fee applies but can be financed into your loan amount.
Conventional loans typically close 3-5 days faster. VA appraisals take longer and may require property repairs before funding.