Loading
in Vallejo, CA
Vallejo sits close to Travis Air Force Base. That makes VA loans a real option for a large chunk of buyers here.
FHA is the fallback for everyone else. Low down payment, flexible credit — but it costs more long-term than most borrowers realize.
FHA loans require just 3.5% down with a 580 credit score. Drop below 580 and you need 10% down.
You pay mortgage insurance premium (MIP) upfront and monthly. That adds real cost over the life of the loan.
VA loans require zero down and no monthly mortgage insurance. For veterans, that combination is hard to beat.
You pay a one-time funding fee instead of ongoing MIP. Disabled veterans are exempt from that fee entirely.
The biggest gap is mortgage insurance. VA has none. FHA charges MIP every month, often for the full loan term.
VA rates typically run lower than FHA rates. Rates vary by borrower profile and market conditions, but VA's government guarantee gives lenders confidence to price aggressively.
If you served and you're buying in Vallejo, use your VA benefit. The savings over 30 years are significant.
If you're a civilian buyer with limited savings and credit below 700, FHA likely gets you into a home when conventional won't.
Yes. VA loans allow zero down payment. You may still need funds for closing costs, though sellers can cover those.
Both programs set county-level loan limits. Check current Solano County limits before assuming your purchase price qualifies.
FHA is more flexible on credit. VA has strict eligibility — military service is required, but credit standards are competitive.
VA loans require a VA appraisal, which can add time. An experienced lender minimizes delays on both loan types.
Generally no — both are for primary residences. You'd need to pay off one before using the other on a new home.
For most FHA loans originated today, MIP stays for the full loan term. The only exit is refinancing into a different loan.