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in Visalia, CA
Visalia has a strong veteran population. For eligible buyers, the choice between conventional and VA financing is one of the most important calls you'll make.
These two loan types serve different borrowers. Knowing which one fits your situation can save you tens of thousands over the life of the loan.
Conventional loans aren't backed by the government. That means lenders set stricter credit and income standards — typically a 620 minimum credit score.
Put down 20% and you avoid private mortgage insurance (PMI), which protects the lender if you default. Less than 20% down means PMI gets added to your monthly payment.
Loan limits apply. In Tulare County, conforming loan limits cap what you can borrow under conventional terms without jumping to a jumbo loan.
VA loans are for veterans, active-duty service members, and surviving spouses. No down payment required — that's the headline benefit.
There's no PMI on VA loans. The VA guarantees a portion of the loan, so lenders don't need that extra protection. Your monthly payment stays lower.
VA loans do carry a funding fee — a one-time cost that helps sustain the program. Some veterans with service-connected disabilities are exempt from it.
HousingWire flagged the 30-year fixed rate at 6.57% with applications dropping sharply. That rate environment hits conventional borrowers harder — VA rates typically run lower. Rates vary by borrower profile and market conditions.
Down payment is the clearest split. Conventional loans can go as low as 3% down, but you'll pay PMI. VA loans require nothing down and skip PMI entirely.
Eligibility is the other dividing line. VA loans are earned through military service. Conventional loans are open to any buyer who meets credit and income requirements.
If you're a veteran or active-duty service member buying in Visalia, VA is almost always the stronger play. Zero down and no PMI are hard to beat.
Conventional makes more sense if you don't qualify for VA benefits, have strong credit, and can put 20% down. At that point, you avoid PMI and keep your options open.
Some veterans actually use both over time — VA on a primary home, conventional on a second property. Talk to us about which path fits your full picture.
Yes. VA entitlement can be restored after you sell and pay off a prior VA loan. Some veterans carry two VA loans at once under certain conditions.
VA loans require a VA appraisal, which can add a few days. Most close in the same 30-45 day window as conventional loans.
The VA itself doesn't set a minimum. Most lenders in our network want at least 580-620. Stronger scores still get better rates.
No. VA loans never require PMI. The VA guarantee replaces the protection that PMI provides on conventional loans.
Absolutely. Conventional is the standard loan type for most buyers. You'll need to meet credit, income, and down payment requirements.
VA loans require the property to meet Minimum Property Requirements set by the VA. Conventional appraisals are generally less restrictive.