Question 1

Can I use a VA loan in Union City?

Accepted Answer

Yes, as long as you meet VA eligibility and the property qualifies. Union City falls within standard VA loan limits for Alameda County.

Question 2

Does VA or FHA have stricter credit requirements?

Accepted Answer

VA has no official minimum, but most lenders set 620. FHA allows 580 with 3.5% down — lower credit scores have more options with FHA.

Question 3

Which loan has lower monthly payments?

Accepted Answer

VA usually wins. No monthly mortgage insurance premium cuts your payment compared to FHA, which requires it for the life of the loan.

Question 4

Can a surviving spouse use a VA loan?

Accepted Answer

Yes. Eligible surviving spouses of veterans can use VA loan benefits, including zero down payment and no monthly mortgage insurance.

Question 5

What is the VA funding fee?

Accepted Answer

It's a one-time fee paid at closing in place of mortgage insurance. The amount varies by loan size and usage. Disabled veterans are exempt.

Question 6

Can I use both FHA and VA on the same property?

Accepted Answer

No. You pick one loan program per transaction. If you qualify for VA, there's almost no scenario where FHA makes more financial sense.

FHA vs VA Loans in Union City, CA