Question 1

Can I use a VA loan if I used FHA before?

Accepted Answer

Yes. Previous FHA use doesn't affect VA eligibility. You can switch from FHA to VA on your next purchase if you qualify for benefits.

Question 2

Which loan has lower monthly payments in San Joaquin?

Accepted Answer

VA loans typically run $200-300 less monthly because there's no mortgage insurance. The upfront funding fee is your only extra cost.

Question 3

Do both loans require appraisals?

Accepted Answer

Yes, but VA appraisals are stricter on property condition. FHA allows more needed repairs as long as the home is safe and habitable.

Question 4

Can I put money down with a VA loan to lower the funding fee?

Accepted Answer

Yes. Putting 5% down drops the VA funding fee from 2.3% to 1.65%. Putting 10%+ down cuts it to 1.4%.

Question 5

Which loan closes faster in Fresno County?

Accepted Answer

FHA and VA close in similar timeframes, usually 30-45 days. VA appraisals sometimes take longer to schedule in rural areas.

FHA vs VA Loans in San Joaquin: Which Government Loan Fits Your Situation?