Question 1

Can I use a VA loan if I'm a surviving spouse?

Accepted Answer

Yes. Eligible surviving spouses qualify for VA loans. You'll need to provide documentation confirming eligibility through the VA.

Question 2

Does FHA require mortgage insurance forever?

Accepted Answer

In most cases, yes — if you put less than 10% down, FHA mortgage insurance stays for the life of the loan.

Question 3

Which loan has a lower interest rate, FHA or VA?

Accepted Answer

VA rates are typically lower than FHA rates. Rates vary by borrower profile and market conditions.

Question 4

Can I use both FHA and VA to compare offers?

Accepted Answer

Yes. SRK CAPITAL can run both scenarios side by side. You pick whichever loan structure works best for your situation.

Question 5

What credit score do I need for each loan?

Accepted Answer

FHA requires 580 for 3.5% down. VA has no official minimum, but most lenders want at least 580–620.

Question 6

Is there an income limit for VA or FHA loans?

Accepted Answer

Neither program sets a hard income cap. Lenders evaluate debt-to-income ratio instead of a flat income cutoff.

FHA vs VA Loans in Crescent City, CA