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in Vallejo, CA
Vallejo sits near three military installations. That makes VA eligibility common here — and worth understanding before you pick a loan.
Both loans are solid options. The right choice depends on your service history, credit, and how much cash you want to put down.
Conventional loans aren't backed by the government. Lenders set their own guidelines, but most follow Fannie Mae or Freddie Mac standards.
You'll need at least 620 credit and 3% down for most programs. Put down 20% and you skip private mortgage insurance (PMI) entirely.
VA loans are backed by the Department of Veterans Affairs. Eligible borrowers get zero down, no PMI, and typically lower rates than conventional.
You need a Certificate of Eligibility from the VA. Most lenders also want a 620 credit score, though the VA itself sets no minimum.
The biggest gap is upfront cash. VA buyers can close with almost nothing down. Conventional buyers without 20% pay PMI monthly until they hit 80% equity.
HousingWire flagged the 30-year fixed at 6.57% recently — VA rates often price below that. For Vallejo veterans, that gap adds up fast over 30 years. Rates vary by borrower profile and market conditions.
If you're a veteran or active-duty and buying a primary residence in Vallejo, VA wins almost every time. Lower rate, zero down, no PMI.
Conventional makes sense if you're not VA-eligible, buying a rental property, or have 20% down and want to avoid the VA funding fee.
Yes. VA-eligible borrowers can buy with zero down in Vallejo. There are no loan limits for full VA entitlement.
No. VA loans never require PMI. You pay a one-time funding fee instead, which can be rolled into the loan.
Most lenders require a 620 minimum. Higher scores unlock better rates and lower PMI costs.
No. VA loans require the home to be your primary residence. Use conventional financing for investment properties.
VA rates typically run lower than conventional. The exact difference depends on your profile and market conditions.