Question 1

Can I use a VA loan in Larkspur with no money down?

Accepted Answer

Yes. VA loans have no down payment requirement. Eligible veterans can finance 100% in Marin County.

Question 2

Does FHA have a loan limit in Marin County?

Accepted Answer

Yes, FHA sets county-level loan limits. Marin County qualifies for a higher limit as a high-cost area.

Question 3

Which loan has lower monthly payments?

Accepted Answer

VA typically wins. No mortgage insurance premium means a lower monthly payment at the same loan amount. Rates vary by borrower profile and market conditions.

Question 4

Can I use both FHA and VA on the same property?

Accepted Answer

No. You choose one loan type per transaction. If you qualify for VA, there's almost no reason to choose FHA.

Question 5

What credit score do I need for a VA loan?

Accepted Answer

VA itself sets no minimum. Most lenders want 620 or higher. Some go lower depending on the full borrower profile.

Question 6

Is the VA funding fee required at closing?

Accepted Answer

Yes, unless you have a service-connected disability rating. The fee can be rolled into the loan amount.

FHA vs VA Loans in Larkspur, CA