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in Glendora, CA
Both FHA and VA loans help Glendora buyers get into foothill properties with less cash up front. FHA works for anyone who qualifies, while VA serves military members exclusively.
These aren't competing products—they're designed for different buyers. Your military service status makes the choice simple in most cases.
FHA loans let you buy with just 3.5% down if your credit score hits 580. You'll pay mortgage insurance for the life of the loan unless you refinance later.
These loans accept recent credit issues better than conventional mortgages. We see them work well for first-time buyers in Glendora who need flexible underwriting but aren't military.
Sellers don't love FHA offers as much as conventional or VA because the appraisal standards are stricter. Budget an extra two weeks for closing compared to conventional loans.
VA loans require zero down payment and charge no monthly mortgage insurance. You pay a one-time funding fee unless you're disabled or receiving disability compensation.
Credit requirements are flexible—no official minimum score exists, though most lenders want 620 or better. We close VA loans in Glendora regularly for buyers with past credit challenges.
The VA appraisal protects you from overpaying and flags major property defects. Sellers sometimes hesitate because they've heard VA deals are difficult, but that's outdated thinking in competitive markets.
The down payment gap matters most. VA buyers keep 3.5% more cash for reserves, repairs, or furnishings—significant on a $700,000 Glendora home.
Monthly payments differ too. No mortgage insurance on VA loans saves $200-400 monthly compared to FHA on typical purchase amounts here.
FHA serves everyone who qualifies financially. VA serves military members exclusively, so your eligibility determines which loan you can actually use.
If you qualify for VA benefits, use them. The zero-down feature and absence of mortgage insurance beat FHA in almost every scenario.
FHA makes sense when you're not military-connected but need low down payment options. It's the strongest government loan available to civilian buyers with limited savings.
Some veterans still choose FHA when buying a second property after using VA entitlement elsewhere. We can check your remaining entitlement and compare both options in one conversation.
Yes, if you've sold that property or have remaining entitlement. Los Angeles County loan limits are $1,149,825 for 2024, which covers most Glendora purchases.
Both take 30-45 days typically. VA can move faster when the appraiser schedules quickly, but processing timelines are similar for experienced lenders.
Some do in multiple-offer situations. Cash-heavy offers or conventional loans with appraisal waivers compete better, but strong pre-approvals help both loan types.
Upfront costs are similar, but VA has no ongoing monthly premiums. Over 10 years, FHA costs significantly more in total insurance payments.
VA already requires zero down, so most assistance programs don't stack. FHA pairs better with county and city down payment help programs.