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in Healdsburg, CA
Healdsburg's market offers choices for both conventional buyers and military borrowers. Your loan type affects down payment, rates, and closing costs.
Most Healdsburg buyers use conventional financing. VA loans offer zero-down options for eligible veterans purchasing in Sonoma County.
Conventional loans follow Fannie Mae and Freddie Mac guidelines. You'll need 620+ credit and typically 3-20% down for Healdsburg homes.
Private mortgage insurance applies when you put down less than 20%. Rates vary by borrower profile and market conditions.
VA loans require zero down payment for eligible veterans and service members. You'll pay a funding fee but avoid monthly mortgage insurance.
Credit requirements are flexible, often accepting scores below 620. Sellers can pay all closing costs in Healdsburg transactions.
The biggest gap is down payment. VA borrowers need nothing down while conventional requires 3-20% on Healdsburg properties.
Monthly costs differ too. Conventional loans under 20% down carry PMI. VA loans skip PMI but charge an upfront funding fee.
Use VA if you're eligible. Zero down beats saving for years in Healdsburg's market. The funding fee is worth avoiding PMI long-term.
Choose conventional if you're not military-connected or want faster closes. Some Healdsburg sellers prefer conventional offers over VA.
Most single-family homes qualify. VA has stricter property condition standards than conventional loans, requiring more repairs at inspection.
VA typically offers rates 0.25-0.50% lower than conventional. Rates vary by borrower profile and market conditions.
Yes, though some prefer conventional due to appraisal requirements. Strong VA offers with waived seller concessions compete well.
First-time VA buyers pay 2.15% of the loan amount. Subsequent use costs 3.3%, but disabled veterans pay nothing.
No, you need 20% down to avoid PMI. Lender-paid PMI options exist but come with higher interest rates.