Question 1

Can I use a VA loan in Del Rey Oaks?

Accepted Answer

Yes, VA loans work anywhere in California including Del Rey Oaks. You need a valid Certificate of Eligibility to proceed.

Question 2

Does VA always beat FHA on cost?

Accepted Answer

For eligible borrowers, usually yes. No mortgage insurance is a major monthly savings FHA can't match.

Question 3

What credit score do I need for FHA?

Accepted Answer

580 gets you 3.5% down. Below 580, lenders require 10% down — and many won't go below 580 at all.

Question 4

Is there a loan limit on VA in Monterey County?

Accepted Answer

VA doesn't cap loan amounts for borrowers with full entitlement. Lenders still evaluate income and debt ratios.

Question 5

Can I have both FHA and VA eligibility?

Accepted Answer

You can qualify for both, but you'd pick one per transaction. VA almost always makes more financial sense if you're eligible.

FHA vs VA Loans in Del Rey Oaks, CA