Question 1

Can I use VA and FHA loans in Rosemead at the same time?

Accepted Answer

No. You'll use one or the other for a single property purchase. If you qualify for VA, that's typically the better financial choice.

Question 2

Which loan has lower closing costs in Los Angeles County?

Accepted Answer

VA generally costs less overall because you avoid mortgage insurance. Both let sellers pay up to 6% toward your closing costs.

Question 3

Do FHA and VA loans work for condos in Rosemead?

Accepted Answer

Yes, but the condo complex must be FHA or VA approved. Not all HOAs meet government requirements, so check before making offers.

Question 4

What's the minimum credit score for each loan?

Accepted Answer

FHA officially requires 580, though some lenders want 600+. VA has no official minimum, but most lenders require 620 in practice.

Question 5

Can I refinance from FHA to VA later?

Accepted Answer

Yes. Many veterans start with FHA before learning about VA benefits, then refinance to drop mortgage insurance and lower their rate.

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