Question 1

Can I use a VA loan to buy in Belvedere?

Accepted Answer

Yes, if you meet VA service requirements. Belvedere falls within Marin County VA loan limits, which apply to zero-down purchases.

Question 2

Does FHA require mortgage insurance forever?

Accepted Answer

On most FHA loans made today, mortgage insurance stays for the life of the loan. The only exit is refinancing into a conventional loan.

Question 3

Which loan has a higher limit in Marin County?

Accepted Answer

Both FHA and VA limits are set at the county level. Marin qualifies for higher conforming limits as a high-cost area.

Question 4

What credit score do I need for each loan?

Accepted Answer

FHA allows as low as 580 with 3.5% down. Most VA lenders want 620 or higher, though the VA itself sets no minimum.

Question 5

Can I use both FHA and VA if I'm a veteran?

Accepted Answer

No — you pick one loan per purchase. Veterans should compare both options, but VA typically wins on total monthly cost.

FHA vs VA Loans in Belvedere, CA