Question 1

Can I use a VA loan on a cabin in Markleeville?

Accepted Answer

Only if it's your primary residence. VA loans don't cover vacation properties or investment homes, even in mountain communities.

Question 2

Which loan closes faster in Alpine County?

Accepted Answer

FHA typically closes slightly faster since VA appraisals include stricter property condition requirements. Both take 30-45 days on average.

Question 3

Do both programs have loan limits in Markleeville?

Accepted Answer

FHA caps at $498,257 in Alpine County for 2024. VA has no loan limit for eligible veterans with full entitlement.

Question 4

Can I avoid the VA funding fee?

Accepted Answer

Yes if you receive VA disability compensation or you're a surviving spouse. Otherwise the fee applies but can be financed into your loan.

Question 5

Which program accepts lower credit scores?

Accepted Answer

FHA officially goes to 500 credit with 10% down. VA has no official minimum but most lenders want 620 or higher.

FHA vs VA Loans in Markleeville: Which Government-Backed Mortgage Fits Your Alpine County Purchase?