Visalia homebuyers have access to a variety of financing options to suit their needs. The most common financing methods include:

  • Conventional Loans:
    • Popular among buyers with strong credit (typically above 620) and stable income.
    • Require down payments as low as 3% but often 5% to 20%, depending on the loan terms.
    • Offer competitive interest rates and flexible terms (15 to 30 years).
  • FHA Loans:
    • Designed for first-time buyers or those with moderate credit scores (580 or higher).
    • Require a lower down payment, typically 3.5%.
    • Easier qualification criteria make these loans popular among younger or first-time buyers.
  • VA Loans:
    • Exclusive to veterans, active-duty service members, and their families.
    • Require no down payment and offer competitive interest rates.
    • No private mortgage insurance (PMI) requirement makes these loans an attractive option for eligible buyers.
  • USDA Loans:
    • Available for homes in rural areas, including some parts of Visalia.
    • Offer 100% financing with no down payment for eligible buyers.
    • Income limits apply, making this option ideal for low- to moderate-income households.
  • Jumbo Loans:
    • Suitable for high-value properties exceeding conventional loan limits.
    • Typically require excellent credit and a higher down payment (10% to 20%).

Working with an experienced lender who understands the Visalia market can help buyers choose the best financing option for their situation.