Question 1

Can I use a VA loan to buy a rental property in Fairfield?

Accepted Answer

No. VA loans are for primary residences only. Use conventional financing for investment properties.

Question 2

Do VA loans have loan limits in Solano County?

Accepted Answer

If you have full VA entitlement, there's no loan limit. Conventional conforming caps at $806,500 in Solano County.

Question 3

What is the VA funding fee?

Accepted Answer

It's a one-time fee paid to the VA instead of monthly mortgage insurance. The amount depends on your down payment and prior VA use.

Question 4

Which loan is faster to close in Fairfield?

Accepted Answer

Conventional often closes faster. VA requires a VA appraisal, which adds a few extra days to the timeline.

Question 5

Can I have both a VA loan and a conventional loan at the same time?

Accepted Answer

Yes, in many cases. You can use remaining VA entitlement on a second purchase while carrying a conventional loan.

Conventional vs VA Loans in Fairfield, CA