Question 1

Can I use a VA loan in Alameda with no down payment?

Accepted Answer

Yes. Eligible veterans can buy in Alameda with zero down. VA removed loan limits for full-entitlement borrowers in 2020.

Question 2

Does FHA mortgage insurance ever go away?

Accepted Answer

Not on most FHA loans made after 2013. You'd need to refinance into a conventional loan to drop it.

Question 3

Which loan has stricter property requirements?

Accepted Answer

VA appraisals are known to be strict. Properties must meet minimum safety and livability standards. FHA has similar rules.

Question 4

What credit score do I need for a VA loan?

Accepted Answer

The VA sets no minimum, but most lenders want at least 620. Some go lower depending on the full borrower profile.

Question 5

Can surviving spouses use a VA loan in Alameda?

Accepted Answer

Yes. Eligible surviving spouses of veterans can use VA benefits, including the zero down payment option.

Question 6

Is FHA or VA better for a lower credit score?

Accepted Answer

FHA allows scores down to 580 for 3.5% down. VA has no official floor, but lender overlays usually start at 620.

FHA vs VA Loans in Alameda, CA: Which One Fits You?