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in Fairfield, CA
Fairfield sits right next to Travis Air Force Base. That makes VA loans a real option for a large chunk of local buyers.
FHA loans cover everyone else — first-timers, buyers with bruised credit, and those without military service. Both are government-backed. Both beat conventional on flexibility.
FHA loans require just 3.5% down with a 580 credit score. Drop to 500-579 and you still qualify — but you'll need 10% down.
The catch is mortgage insurance. FHA charges an upfront premium plus monthly MIP. That cost sticks around for the life of the loan in most cases.
VA loans require zero down payment. No monthly mortgage insurance either. For an eligible borrower, that's a significant monthly savings.
There is a funding fee — a one-time charge rolled into the loan. First-time VA buyers with no down pay 2.15%. Disabled veterans are exempt.
The biggest gap is mortgage insurance. VA has none. FHA charges it every month, which adds real cost over time.
Credit standards differ too. VA has no official minimum score — lenders set their own, often around 620. FHA's floor is 500, which helps buyers with serious credit damage.
If you have VA eligibility, use it. The math almost always favors VA — no down payment, no MIP, and rates typically run competitive. Rates vary by borrower profile and market conditions.
FHA makes sense if you don't qualify for VA, have a credit score below 620, or need a loan structure that works outside military eligibility. It's a strong fallback with real purchasing power.
Yes. Fairfield is a common area for VA purchases given Travis AFB proximity. VA loan limits in Solano County follow standard conforming guidelines.
VA rates typically run lower than FHA rates. Rates vary by borrower profile and market conditions — we shop both across 200+ lenders.
You can qualify for both. If you have VA entitlement, we'll compare both programs to see which saves you more money.
On most FHA loans originated with less than 10% down, MIP lasts the full loan term. Putting 10%+ down cuts it to 11 years.
First-time VA buyers with no down payment pay a 2.15% funding fee. It rolls into the loan. Disabled veterans are typically exempt.
Both follow similar timelines. VA appraisals can take slightly longer in some markets. A strong lender makes more difference than the loan type.