Question 1

Can I use a VA loan if I've never been in combat?

Accepted Answer

Yes. Active-duty service, National Guard, and Reserves all generate VA eligibility after meeting minimum service requirements, regardless of deployment history.

Question 2

Which loan has lower interest rates in Kerman?

Accepted Answer

VA loans typically price 0.25%-0.5% lower than FHA because they carry less risk for lenders. Rates vary by borrower profile and market conditions.

Question 3

Does FHA mortgage insurance ever go away?

Accepted Answer

Only if you put down 10% or more, then it drops after 11 years. Most FHA borrowers refinance to conventional loans to remove it earlier.

Question 4

Can I use VA and FHA loans for investment properties?

Accepted Answer

Neither program allows pure investment properties. Both require you to occupy the home as your primary residence, though multi-family is allowed.

Question 5

Which program has faster closings in Fresno County?

Accepted Answer

Both close in 30-40 days typically. VA appraisals sometimes take longer due to property condition requirements, but the difference is minimal.

FHA vs VA Loans in Kerman: Which Government-Backed Mortgage Wins for You?