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in Calexico, CA
Two strong government-backed options exist for Calexico buyers. FHA and VA loans both offer low barriers to entry — but they work very differently.
VA is zero down for eligible veterans. FHA opens the door for buyers without military service. Knowing which fits your profile saves time and money.
FHA loans are insured by the Federal Housing Administration. Lenders approve borrowers with credit scores as low as 580 and just 3.5% down.
The catch is mortgage insurance. You pay an upfront premium plus monthly MIP — that adds to your cost over time.
VA loans are guaranteed by the Department of Veterans Affairs. Eligible veterans and active-duty service members can buy with zero down and no PMI.
The VA funding fee replaces mortgage insurance. It's a one-time cost — and it can be rolled into the loan balance.
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 Calexico.
Two strong government-backed options exist for Calexico buyers. FHA and VA loans both offer low barriers to entry — but they work very differently.
VA is zero down for eligible veterans. FHA opens the door for buyers without military service. Knowing which fits your profile saves time and money.
FHA loans are insured by the Federal Housing Administration. Lenders approve borrowers with credit scores as low as 580 and just 3.5% down.
The biggest difference is eligibility. VA is exclusive to veterans, active-duty members, and qualifying surviving spouses. FHA is open to almost anyone.
On cost, VA wins for eligible borrowers. No monthly MIP means hundreds less per month. FHA's mortgage insurance sticks around unless you refinance out of it.
If you served, use your VA benefit. It's the better deal in almost every scenario. Zero down and no MIP is hard to beat.
If you're a civilian buyer or don't have VA eligibility, FHA is a solid path. The 3.5% down requirement is achievable for most Calexico buyers.
Not on the same purchase. You pick one. If you're VA-eligible, we'll show you why VA usually wins on total cost.
VA requires an appraisal by a VA-approved appraiser. It includes minimum property requirements that FHA also enforces.
VA loans typically carry lower rates than FHA. Rates vary by borrower profile and market conditions.
You'll need a Certificate of Eligibility from the VA. We can pull that for you during the application process.
Yes. FHA sets county-level loan limits each year. We'll confirm the current Imperial County limit before you apply.
FHA is generally more flexible on credit. VA has no set minimum score but lenders typically want 580-620 or higher.