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Wasco sits in Kern County's agricultural heartland. Many buyers here are first-timers or military-connected — and both groups have strong loan options.
FHA and VA loans both carry government backing. But they serve different borrowers, and the differences matter when you're making an offer.
FHA loans are insured by the Federal Housing Administration. You need 3.5% down with a 580 credit score, or 10% down if your score is between 500 and 579.
The catch is mortgage insurance. FHA charges an upfront premium plus a monthly fee — and it sticks around for the life of the loan in most cases.
VA loans are guaranteed by the Department of Veterans Affairs. Eligible veterans, active-duty service members, and surviving spouses can buy with zero down.
There's no monthly mortgage insurance. VA charges a one-time funding fee instead — and some borrowers with service-related disabilities are exempt.
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 Wasco.
Wasco sits in Kern County's agricultural heartland. Many buyers here are first-timers or military-connected — and both groups have strong loan options.
FHA and VA loans both carry government backing. But they serve different borrowers, and the differences matter when you're making an offer.
FHA loans are insured by the Federal Housing Administration. You need 3.5% down with a 580 credit score, or 10% down if your score is between 500 and 579.
The biggest gap is down payment. VA gets you in with nothing down. FHA asks for at least 3.5%.
Monthly costs differ too. VA has no mortgage insurance premium. FHA borrowers pay that fee every month, which adds up fast on a Kern County purchase.
Eligibility is the dividing line. VA is locked to military-connected borrowers. FHA is open to anyone who meets the income and credit standards.
If you served, use your VA benefit. Zero down and no mortgage insurance is a hard combination to beat — especially for buyers stretching their budget in Wasco.
If you haven't served, FHA is your best path with limited savings or a credit score under 680. It's a reliable loan that closes consistently.
Don't try to use VA if you're not eligible. And don't fall back on FHA if VA is on the table — the monthly savings are real money.
Yes, if you have qualifying military service. Wasco is in Kern County, and VA loans work statewide in California.
VA rates typically run lower. But your actual rate depends on your credit, lender, and market conditions when you lock.
No. Eligible borrowers can finance 100% of the purchase price. No down payment is required.
On most FHA loans with less than 10% down, mortgage insurance stays for the entire loan term. It doesn't drop off automatically.
Yes. If you become VA-eligible, you can refinance an FHA loan into a VA loan. Many borrowers do this to eliminate mortgage insurance.
Both are flexible compared to conventional. VA has no minimum credit score set by VA — but lenders typically want 620. FHA allows down to 580.
in Wasco, CA