Loading
in San Bruno, CA
San Bruno sits in San Mateo County where the median household income is $156,000. Conventional and VA loans both serve buyers here, but they work very differently on down payment and monthly cost.
The choice hinges on whether you have savings to put down or can use your military benefit to buy with zero down. Downtown San Mateo's Bespoke mixed-use development signals neighborhood investment and buyer confidence in the area.
Conventional at 6.25% requires 20% down to skip PMI on a primary residence. At 80% LTV, your monthly P&I payment is $4,618 with no mortgage insurance cost.
Conventional loans go up to the 2026 conforming limit of $1,249,125 in San Mateo County. Underwriting typically asks for two years of work history and solid income documentation.
VA at 5.875% lets you buy with zero down if you're eligible. The monthly P&I payment is $4,437 with no down payment required.
The funding fee (2.15% for first-time use) rolls into the loan amount. VA loans also reach the 2026 conforming limit of $1,249,125 in San Mateo County.
Conventional demands 20% down upfront but charges no mortgage insurance at that LTV. VA requires zero down but adds a 2.15% funding fee to the loan balance.
The rate spread favors VA: 5.875% versus 6.25% is a meaningful 37.5 basis-point advantage. That rate difference saves $181 per month on the same loan amount.
Pick conventional if you have at least 20% down saved and want to avoid any mortgage insurance or funding fees. You'll lock a straightforward payment with no insurance cost.
Pick VA if you're a veteran, active-duty service member, or surviving spouse with a Certificate of Eligibility. Zero down plus a lower rate makes the monthly payment smaller and preserves cash for repairs.
Yes. At 80% LTV (20% down), conventional loans carry no PMI. Below 80% LTV, PMI applies and cancels automatically at 78% LTV.
Yes, if you have a Certificate of Eligibility as a surviving spouse. Active-duty members and veterans with honorable discharge also qualify.
On a $750,000 loan at 740 FICO: conventional at 6.25% is $4,618/month, VA at 5.875% is $4,437/month. That's $181 less per month with VA.
No. The funding fee is a one-time charge (2.15% for first-time users) that replaces traditional mortgage insurance. It rolls into your loan amount.
The 2026 conforming limit is $1,249,125 for both conventional and VA loans. Loans above that amount require jumbo financing.