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in Vacaville, CA
Vacaville sits close to Travis Air Force Base. That makes VA loans a real option for a large share of buyers here.
Conventional loans still dominate the market. But for eligible veterans, the VA program is hard to beat.
Conventional loans are not government-backed. Lenders set their own terms within Fannie Mae and Freddie Mac guidelines.
You need at least 620 credit and 3% down. Put down 20% and you skip private mortgage insurance entirely.
VA loans are guaranteed by the Department of Veterans Affairs. Eligible borrowers include veterans, active-duty, and surviving spouses.
No down payment. No monthly mortgage insurance. VA rates typically run lower than conventional. Rates vary by borrower profile and market conditions.
The biggest gap is upfront cost. VA buyers can close with zero down. Conventional buyers need at least 3% — more to drop PMI.
HousingWire flagged the 30-year fixed hitting 6.57% with applications dropping sharply. That rate gap between VA and conventional matters more when rates are this high.
If you served and you qualify, VA is almost always the stronger move in Vacaville. The savings on down payment and PMI add up fast.
Conventional makes sense for buyers who don't qualify for VA — or who want to buy a rental or second home, which VA won't cover.
Yes, and many buyers near Travis AFB do. You need a valid Certificate of Eligibility and must occupy the home as your primary residence.
VA loans typically carry lower rates than conventional. Rates vary by borrower profile and market conditions.
It's a one-time fee rolled into your loan. The amount depends on your down payment and whether you've used VA before.
No. VA loans require owner occupancy. For investment properties, conventional is your route.
Conventional loans typically require at least 620. VA has no official minimum, but most lenders want at least 580-620.
No. VA loans allow 100% financing for eligible borrowers. That's one of the biggest advantages over conventional.