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in Moraga, CA
Moraga buyers choosing between FHA and VA loans are weighing two very different paths to homeownership. FHA requires a down payment and mortgage insurance. VA offers zero down for eligible veterans and active-duty service members.
The 2026 loan limit for both programs in Moraga is $1,249,125. County median household income sits at $125,727. Both loans work well here, but they serve different buyer profiles.
FHA at 5.875% works for buyers with modest savings and credit scores above 580. The loan amount reaches $750,000 on a $777,202 purchase with just 3.5% down.
Monthly P&I runs $4,437 at 740 FICO and 96.5% LTV. Mortgage insurance (MIP) is built into the rate and payment. At your down-payment level, MIP continues for the life of the loan.
VA at 5.75% is available to eligible veterans, active-duty service members, and surviving spouses with a Certificate of Eligibility. Zero down means the full purchase price rolls into the loan.
Monthly P&I is $4,377 on a $750,000 loan. The funding fee replaces traditional mortgage insurance. At zero down, the funding fee is 2.15% of the loan amount.
Local decision guide
Use this comparison to weigh FHA Loans and VA Loans through local payment fit, eligibility, documentation, and timing before choosing a path in Moraga.
Moraga buyers choosing between FHA and VA loans are weighing two very different paths to homeownership. FHA requires a down payment and mortgage insurance. VA offers zero down for eligible veterans and active-duty service members.
The 2026 loan limit for both programs in Moraga is $1,249,125. County median household income sits at $125,727. Both loans work well here, but they serve different buyer profiles.
FHA at 5.875% works for buyers with modest savings and credit scores above 580. The loan amount reaches $750,000 on a $777,202 purchase with just 3.5% down.
The down-payment gap is the clearest difference. FHA requires at least 3.5% down; VA requires nothing. That gap means VA buyers keep more cash at closing.
FHA's mortgage insurance runs for the life of the loan when down payment is under 10%. VA's funding fee is a one-time cost. The VA rate edges lower (5.75% vs 5.875%), saving $60 per month.
FHA is right for buyers without military service who have modest savings. If you have a credit score above 620, FHA opens the door. Underwriting is straightforward and closing timelines are predictable.
VA is right for eligible veterans and active-duty service members who want to preserve cash. Zero down means no savings requirement. If you qualify, VA's lower rate and no monthly insurance make it the stronger financial choice.
VA at 5.75% costs $4,377 per month. FHA at 5.875% costs $4,437 per month. VA saves $60 monthly. Both figures are principal and interest only.
Yes. VA loans require a Certificate of Eligibility from the Department of Veterans Affairs. Active-duty service members, veterans, and surviving spouses of eligible service members qualify.
Yes. FHA's minimum FICO is 580 with 3.5% down. Conventional loans typically require 620+. FHA is the only government program that accepts scores that low.
No. When your down payment is under 10%, FHA MIP stays for the life of the loan. On a $750,000 loan with 3.5% down, MIP continues until you refinance or pay off the loan.
No. The funding fee is a one-time cost (2.15% on zero-down loans) rolled into the loan amount. Mortgage insurance is a monthly payment. Veterans with a 10% or higher VA disability rating pay zero funding fee.