Question 1

Can veterans use FHA loans instead of VA loans?

Accepted Answer

Yes, but it makes no financial sense. VA loans offer zero down and no mortgage insurance while FHA requires 3.5% down and permanent insurance premiums.

Question 2

Do Beverly Hills sellers accept FHA and VA offers?

Accepted Answer

Most do, especially on properties under $2 million. Well-maintained homes pass the required inspections without issues in this market.

Question 3

What's the loan limit for FHA and VA in Los Angeles County?

Accepted Answer

Both programs follow conforming limits in high-cost areas. Check current limits annually as they adjust with market conditions.

Question 4

Can I avoid mortgage insurance on an FHA loan?

Accepted Answer

No. FHA requires upfront and monthly mortgage insurance regardless of down payment amount or loan-to-value ratio.

Question 5

Do VA loans take longer to close than FHA?

Accepted Answer

Timeline runs similar—30 to 45 days typically. VA appraisals sometimes add a few days but rarely cause significant delays with experienced lenders.

FHA vs VA Loans in Beverly Hills: Which Government Loan Fits Your Budget?