Question 1

Can I use a VA loan in Emeryville?

Accepted Answer

Yes, if you meet VA eligibility. You'll need a Certificate of Eligibility from the VA before we can submit your loan.

Question 2

Does FHA or VA have higher loan limits in Alameda County?

Accepted Answer

Both programs follow conforming loan limits set for Alameda County. VA loans have no cap if you have full entitlement.

Question 3

Which loan has lower monthly payments?

Accepted Answer

VA typically wins. No MIP keeps the payment lower than FHA at the same rate. Rates vary by borrower profile and market conditions.

Question 4

Can I use FHA and VA on the same property?

Accepted Answer

No. You pick one loan program per transaction. Eligible veterans should compare both before deciding.

Question 5

What credit score do I need for each loan?

Accepted Answer

FHA allows scores as low as 580 for 3.5% down. Most VA lenders want at least 620, though VA itself sets no minimum.

Question 6

Is the VA funding fee always required?

Accepted Answer

Not always. Veterans with a service-connected disability rating are typically exempt. Your lender will verify your status upfront.

FHA vs VA Loans in Emeryville, CA