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in Hidden Hills, CA
Hidden Hills attracts buyers who want space, privacy, and equestrian lifestyle in Los Angeles County. Both FHA and VA loans offer government backing with lower barriers than conventional financing.
The right choice depends entirely on military service eligibility and upfront cash availability. FHA works for any qualified borrower while VA requires service credentials but delivers superior terms.
FHA loans need just 3.5% down with credit scores as low as 580. You'll pay upfront mortgage insurance (1.75% of loan amount) plus annual premiums that last the loan's life on most purchases.
Loan limits in Los Angeles County reach $644,000 for 2024, covering many Hidden Hills entry properties. Sellers often see FHA buyers as solid because the program has predictable underwriting standards.
VA loans require zero down payment and charge no monthly mortgage insurance. You'll pay a one-time funding fee (2.3% for first use, waived for disabled veterans) that can roll into the loan amount.
The VA guarantees 25% of the loan, giving lenders confidence to offer excellent rates. Loan limits don't apply the same way—qualified veterans can borrow above $766,550 with zero down if their entitlement supports it.
Down payment separates these programs most dramatically. FHA requires 3.5% cash while VA needs nothing upfront, a $20,000+ difference on a $600,000 property.
Monthly costs favor VA heavily because you skip mortgage insurance entirely. On a $600,000 loan, FHA insurance runs roughly $350 monthly while VA charges zero, saving $4,200 yearly.
Eligibility is the deciding factor for most borrowers. VA demands military service documentation while FHA accepts anyone who meets credit and income standards.
If you're military-eligible, VA wins on every financial metric. Zero down, no mortgage insurance, and typically better rates make it the strongest loan program available.
Choose FHA when you lack VA eligibility but need low down payment access. It's also useful when the property doesn't meet VA's stricter condition requirements, though Hidden Hills homes typically pass both inspections.
Hidden Hills properties often exceed conforming limits, so verify your specific loan caps before making offers. Veterans with full entitlement can go higher on VA than civilian FHA borrowers can access.
FHA caps at $644,000 in LA County. VA allows higher amounts with full entitlement, making it better for pricier Hidden Hills estates.
VA delivers lower payments because you skip mortgage insurance entirely. On a $600,000 loan, you'd save roughly $350 monthly versus FHA.
Both are government-backed and reliable. VA's appraisal can be stricter on property condition, which some sellers mind on fixer properties.
You skip insurance only with 10%+ down and a loan under $726,200. Even then, it drops after 11 years, not immediately.
FHA accepts 580 officially, though many lenders want 620. VA has no floor, but most lenders require 620 for competitive rates.