Question 1

Can I use a VA loan if I already used one before?

Accepted Answer

Yes, VA loan benefits restore after you sell and pay off the previous loan. You can use them multiple times throughout your life.

Question 2

Which loan has lower closing costs in Cerritos?

Accepted Answer

VA and FHA closing costs run similar at 2-3% of purchase price. VA funding fees cost more upfront but save money long-term through no mortgage insurance.

Question 3

Do FHA loans close faster than VA loans?

Accepted Answer

Both typically close in 30-45 days. VA appraisals may take slightly longer but rarely delay closings significantly.

Question 4

Can I combine a VA loan with seller credits?

Accepted Answer

Yes, sellers can pay up to 4% toward your closing costs with VA loans. This often covers your entire funding fee.

Question 5

Which loan accepts lower credit scores?

Accepted Answer

FHA officially accepts 580 credit scores while VA has no minimum. Most VA lenders still want 620 or higher in practice.

FHA vs VA Loans in Cerritos: Which Government Loan Fits Your Home Purchase?