Question 1

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

Accepted Answer

Yes. VA loans allow 100% financing with no down payment for eligible borrowers. You still pay closing costs unless the seller covers them.

Question 2

What credit score do I need for FHA in Alameda County?

Accepted Answer

580 gets you the 3.5% down option. Scores between 500–579 require 10% down. Below 500, FHA isn't available.

Question 3

Do VA loans have mortgage insurance?

Accepted Answer

No monthly mortgage insurance — ever. There's a one-time VA funding fee, but it's far cheaper than years of FHA MIP.

Question 4

Which loan has higher limits in Alameda County?

Accepted Answer

Both follow conforming loan limits for Alameda County. VA has no cap for full-entitlement borrowers. FHA has a set county limit.

Question 5

Can I have both FHA and VA eligibility?

Accepted Answer

You can qualify for both if you meet service requirements. But if you're VA-eligible, use it — the terms are almost always better.

Question 6

Is FHA or VA faster to close in Hayward?

Accepted Answer

Both require appraisals and standard underwriting. VA appraisals have specific property requirements. Timelines are similar — 30 to 45 days typically.

FHA vs VA Loans in Hayward: Which One Wins for You?