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Davis is a college town with a tight housing market. Inventory moves fast and competition is real.
VA loans give eligible veterans a serious edge here. Zero down means more cash reserves when you're competing.
620 (most lenders)
Min Credit Score
0%
Down Payment
2.15% (first use)
VA Funding Fee
None
Mortgage Insurance
Fixed or ARM
Rate Type
VA Loans in Davis
You need a Certificate of Eligibility and sufficient entitlement. Most lenders want a 620 credit score minimum.
VA doesn't set a debt-to-income cap, but most lenders cut off around 41-50%. Residual income rules also apply.
Not every lender prices VA loans well. Big banks often add overlays that make their terms worse than wholesale.
As a broker with 200+ wholesale lenders, we shop VA rates across the market. You see the real spread — not one bank's shelf rate.
The VA funding fee trips up a lot of buyers. First-time use with zero down is 2.15% of the loan amount — it's rolled in, but it raises your balance.
Disabled veterans with a service-connected rating may be exempt from the funding fee entirely. Always check before closing.
FHA requires 3.5% down and monthly mortgage insurance for most borrowers. VA skips both — that's real money saved over time.
Conventional loans drop PMI at 20% equity. VA never charges PMI at all, regardless of your down payment amount.
Yolo County has proximity to Travis Air Force Base. Active duty and veteran buyers are a real part of this market.
Davis sellers sometimes hesitate on VA offers over appraisal concerns. A strong pre-approval letter and local broker relationships help close that gap.
Yes. Full VA entitlement means zero down on any loan amount. You still need to cover closing costs unless the seller agrees to concessions.
Most do. The hesitation usually comes from VA appraisal requirements. A strong pre-approval and experienced agent help.
First-time use with zero down is 2.15% of the loan amount. It rolls into the loan. Disabled veterans may be exempt.
No loan limit applies if you have full entitlement. Reduced entitlement from a prior VA loan can create a cap.
VA doesn't set a rate by score, but your lender does. Higher scores typically get better pricing. Rates vary by borrower profile and market conditions.