Question 1

Can I use both FHA and VA loans in Bishop?

Accepted Answer

Not on the same property. You pick one. Eligible veterans should almost always choose VA for the cost advantages.

Question 2

Does VA really require zero down payment?

Accepted Answer

Yes, for eligible borrowers with full entitlement. No down payment and no monthly mortgage insurance — that's the real benefit.

Question 3

What credit score do I need for FHA in Inyo County?

Accepted Answer

580 gets you 3.5% down. Between 500 and 579, you'll need 10% down. Below 500, FHA won't work.

Question 4

Is the VA funding fee required for every veteran?

Accepted Answer

Not always. Veterans with service-connected disabilities rated at 10% or higher are typically exempt from the funding fee.

Question 5

Which loan has stricter property requirements in Bishop?

Accepted Answer

Both require the home to meet minimum safety standards. Rural Eastern Sierra properties sometimes have condition issues — get an inspection either way.

Question 6

Can a surviving spouse use a VA loan in Bishop?

Accepted Answer

Yes, eligible surviving spouses of veterans can use VA loan benefits. They must meet VA's specific eligibility criteria.

FHA vs VA Loans in Bishop, CA: Which One Wins for You?