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in Seaside, CA
Seaside sits in the heart of Monterey County's ag-tech boom, where Reservoir Farms just opened a 24-acre innovation hub in nearby Salinas. Buyers here face a real choice: FHA's 3.5% down path or VA's zero-down option if you've served.
The 2026 conforming limit for Seaside is $994,750. FHA and VA both cap at that same ceiling. County median household income sits at $94,486—enough to support mortgages well into the $600,000 range for most buyers.
FHA loans let you buy with just 3.5% down, which means keeping more cash in reserve at closing. You'll pay mortgage insurance for the life of the loan if your down payment stays below 10%.
FHA works well for Seaside buyers who don't have military service behind them. Credit floor sits around 580 FICO, though most lenders prefer 640+. The program caps at $994,750 here, so you're not blocked from any property in the area.
VA loans offer zero down if you're eligible—no down payment, no mortgage insurance, no PMI ever. You'll pay a one-time funding fee (typically 2.3% for first-time users) rolled into the loan amount.
VA buyers need a Certificate of Eligibility and generally a 620 FICO minimum. The program also caps at $994,750 in Seaside. Debt-to-income can stretch to 41% or higher with strong compensating factors.
Down payment is the headline difference. FHA requires 3.5% down; VA requires zero. On a typical Seaside purchase, that gap means keeping $20,000 to $30,000 more in the bank if you qualify for VA. For buyers with limited savings, that's meaningful.
Insurance costs flip the script. FHA charges mortgage insurance monthly for the entire loan term. VA charges a one-time funding fee upfront, then nothing.
Choose FHA if you're not military-eligible and have at least 3.5% saved. You'll qualify with a 640 FICO and can stretch your debt-to-income to 50% if compensating factors are strong.
Choose VA if you've served and have your Certificate of Eligibility. Zero down means you can buy now instead of saving for years. Even with the funding fee, your total cost over 30 years beats FHA's monthly insurance by tens of thousands.
No. FHA requires mortgage insurance for the entire loan term if you put down less than 10%. Even at 10% down, insurance stays for 11 years. The insurance cost is built into your monthly payment.
Yes. You'll need a Certificate of Eligibility from the VA before applying. You can request one online through VA.gov or through your lender. It typically arrives within days.
Both typically close in 30–45 days. VA appraisals can run slightly longer, but the difference is usually a few days. Your lender's processing speed matters more than the program itself.
FHA: 580 minimum, but 640+ is standard. VA: 620 minimum. Both programs allow lower scores with strong compensating factors like savings or income stability.
Yes. Active-duty service members can use VA loans. You'll need a Certificate of Eligibility or a statement of service from your command. Lenders process these routinely.