Question 1

Can I use a VA loan in Gustine, Merced County?

Accepted Answer

Yes. VA loans work in any U.S. city, including Gustine. Eligibility depends on your service record, not your location.

Question 2

Does FHA require mortgage insurance forever?

Accepted Answer

On most FHA loans with less than 10% down, yes — MIP lasts the life of the loan. That's a real cost to factor in.

Question 3

What credit score do I need for a VA loan?

Accepted Answer

VA sets no official minimum, but most lenders require 580–620. We work with lenders on both ends of that range.

Question 4

Which loan has lower monthly payments?

Accepted Answer

VA typically wins due to no MIP. Rates vary by borrower profile and market conditions, so run both scenarios first.

Question 5

Can I use FHA if I've had a recent bankruptcy?

Accepted Answer

FHA allows Chapter 7 bankruptcy with a 2-year waiting period. VA requires the same. Both are more forgiving than conventional.

Question 6

Is there a loan limit difference between FHA and VA in Merced County?

Accepted Answer

FHA has county-level loan limits. VA removed loan limits for eligible borrowers with full entitlement in 2020.

FHA vs VA Loans in Gustine, CA: Which One Fits You?