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in Greenfield, CA
Greenfield buyers have two strong loan options. The right one depends on your military status, credit, and down payment.
VA loans are built for veterans and active-duty borrowers. Conventional loans serve everyone else — and sometimes veterans too.
Conventional loans aren't backed by the government. That means lenders set the rules — and they're strict about credit and down payment.
You'll typically need a 620 credit score minimum. Put down 20% and you skip private mortgage insurance entirely.
VA loans are the best mortgage deal available for eligible borrowers. No down payment, no PMI, and rates typically beat conventional.
You need a Certificate of Eligibility from the VA. Most lenders also want at least a 620 credit score, but VA has no official minimum.
HousingWire flagged the 30-year fixed rate hitting 6.57% recently — that gap matters more when VA rates run below conventional. Rates vary by borrower profile and market conditions.
VA loans charge a funding fee instead of PMI. For most first-time VA users, that's 2.15% of the loan. Conventional PMI runs monthly until you hit 20% equity.
If you served, use your VA benefit. The savings on down payment and PMI alone beat almost every conventional scenario.
Conventional makes more sense for non-military buyers, investors, or veterans buying a rental property. Strong credit and 20% down make conventional very competitive.
Yes. Veterans can choose either loan. Conventional may make sense when buying a second home or investment property.
Conventional is stricter in practice. VA has no official minimum, but most lenders want 620. Conventional lenders enforce that floor more rigidly.
It depends on your down payment and usage. First-time users with zero down pay 2.15%. Some veterans with service-related disabilities are exempt.
Not if you have full VA entitlement. Borrowers with remaining entitlement may face county-level limits. Check your COE to confirm.
Conventional typically closes slightly faster. VA loans require a VA appraisal, which can add a few days to the timeline.
Yes, if you live in one unit. VA allows 1-4 unit properties as long as you occupy one unit as your primary residence.