Question 1

Can I use a VA loan if I'm still on active duty?

Accepted Answer

Yes. Active-duty service members qualify after 90 continuous days of service. Your base pay counts as qualifying income.

Question 2

Does FHA require a higher credit score than VA?

Accepted Answer

FHA has a published minimum of 580 for 3.5% down. VA has no official minimum, but most lenders set a floor around 620.

Question 3

Which loan is cheaper month to month?

Accepted Answer

VA is almost always cheaper. No mortgage insurance and lower rates mean a lower payment on the same purchase price. Rates vary by borrower profile and market conditions.

Question 4

Can a surviving spouse use a VA loan in El Centro?

Accepted Answer

Yes, if the veteran died in service or from a service-connected disability. The spouse must not have remarried in most cases.

Question 5

Do both loans work for El Centro's price range?

Accepted Answer

Yes. Both FHA and VA loan limits exceed typical home prices in Imperial County. Neither program should cap you out locally.

Question 6

Can I switch from FHA to VA after closing?

Accepted Answer

Not directly. You'd need to refinance into a VA loan. If you become eligible after your FHA purchase, a VA refinance is worth running the numbers on.

FHA vs VA Loans in El Centro, CA