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in Fairfield, CA
Fairfield sits next to Travis Air Force Base. That makes VA loans more relevant here than almost anywhere else in Solano County.
If you're eligible for VA, you need a real reason to choose conventional. We'll lay out exactly where each loan wins.
Conventional loans aren't backed by the government. Lenders set their own standards, but most require at least a 620 credit score.
Put 20% down and you skip private mortgage insurance entirely. That saves real money every month.
VA loans are guaranteed by the Department of Veterans Affairs. Eligible borrowers buy with zero down and no monthly mortgage insurance.
Rates on VA loans typically run lower than conventional. HousingWire flagged the 30-year fixed hitting 6.57% — VA borrowers often beat that. Rates vary by borrower profile and market conditions.
The biggest gap is the down payment. Conventional requires at least 3-5% down. VA requires nothing.
Conventional charges PMI if you put down less than 20%. VA has no PMI — ever. You pay a one-time funding fee instead.
If you served and you're buying a primary home in Fairfield, VA is usually the better deal. No down payment plus no PMI is hard to beat.
Conventional makes more sense if you're buying a rental, a second home, or if you've already used your VA entitlement and don't want to restore it.
No. VA loans are for primary residences only. Use conventional financing for investment properties.
If you have full VA entitlement, there's no loan limit. Conventional conforming caps at $832,750 in Solano County.
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.
Conventional often closes faster. VA requires a VA appraisal, which adds a few extra days to the timeline.
Yes, in many cases. You can use remaining VA entitlement on a second purchase while carrying a conventional loan.