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VA Loans in Fairfield
Fairfield sits next to Travis Air Force Base, one of California's largest military installations. That makes VA loans the most common mortgage type we process here.
Solano County sees high VA loan volume because of the military concentration. Lenders here know how to handle VA appraisals and occupancy waivers for deployments.
You can buy anywhere in Fairfield with a VA loan, not just near base. We close deals in Green Valley, Rockville, and downtown neighborhoods regularly.
The VA funding fee gets financed into your loan most of the time. You don't pay it upfront unless you choose to bring it as cash at closing.
You need a Certificate of Eligibility from the VA. Most active-duty members and veterans with 90 days wartime or 181 days peacetime service qualify.
Credit minimums usually sit at 620, though some lenders go to 580. Income has to support the payment plus your other debts below 41% DTI in most cases.
No down payment required, ever. You can buy at full purchase price if your entitlement covers the loan amount.
Surviving spouses qualify if the veteran died in service or from a service-connected disability. Remarriage after age 57 doesn't disqualify you anymore.
Not every lender handles VA loans well. Some reject deals with low credit or high DTI that VA guidelines actually allow.
We work with lenders who specialize in military borrowers and understand deployment documentation. They know how to validate BAH and other allowances properly.
VA appraisals sometimes require repairs before closing. Experienced lenders know which issues need fixing and which get waived with amendments.
Turnaround times run 21 to 30 days with good lenders. Avoid banks quoting 45-day closings unless you have time to spare.
Travis personnel get PCS orders with 30 days notice sometimes. We keep lenders on standby who can close in three weeks when orders come through.
The VA funding fee varies: 2.15% for first use with zero down, 1.5% with 5% down. Disabled veterans pay nothing.
Fairfield has some condos that aren't VA-approved. We check the project status before you write an offer to avoid dead deals.
You can use a VA loan multiple times. If you sold your last home or a buddy assumes your old loan, your entitlement resets for full use.
FHA loans require 3.5% down and charge mortgage insurance forever unless you refinance. VA loans skip both problems entirely.
Conventional loans need 5% down minimum and hit you with PMI below 20% equity. VA costs less upfront and monthly in most scenarios.
USDA loans work in rural Solano areas but require income limits. VA has no income caps and works anywhere in Fairfield.
Jumbo loans need 10-20% down for amounts above conventional limits. VA loans go to $766,550 in Solano County with zero down.
Fairfield home prices vary widely between older neighborhoods and new construction near Travis. VA loans work for both, but appraisals scrutinize condition closely.
Sellers here understand VA loans because of the base. You won't face the stigma some markets have about VA financing taking longer.
Solano County transfer taxes stay low compared to Bay Area counties. That keeps your closing costs reasonable even on larger purchases.
Some Travis members buy in Vacaville or Suisun City instead. Your VA loan works countywide, so we shop areas based on commute and budget preferences.
Yes, active-duty members qualify for VA loans immediately. You'll need to certify you intend to occupy the home as your primary residence.
You can renegotiate the price, pay the difference in cash, or cancel with your earnest money refunded. VA protects you from overpaying.
No, the fee gets added to your loan balance in most cases. You can pay it at closing if you want to reduce your loan amount.
Only if the project appears on the VA's approved condo list. We verify this before you make an offer to avoid wasted time.
We've closed VA loans in 18 days for Travis personnel with rush orders. Three weeks is realistic with complete documentation upfront.
A 10% rating or higher exempts you from the funding fee entirely. That saves 2.15% of the loan amount on most purchases.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.