Loading
in Buena Park, CA
Both FHA and VA loans offer low barriers to entry. But they serve very different borrowers.
If you served in the military, VA almost always wins. If you didn't, FHA is likely your path to a low down payment in Buena Park.
FHA loans are insured by the Federal Housing Administration. They accept credit scores as low as 580 with 3.5% down.
You'll pay mortgage insurance — both upfront and monthly. That's the tradeoff for easier qualification.
VA loans are guaranteed by the Department of Veterans Affairs. Zero down payment and no monthly mortgage insurance.
Eligible borrowers are veterans, active-duty service members, and surviving spouses. The savings over time are significant.
The biggest difference is cost. VA has no monthly mortgage insurance. FHA charges it for the life of the loan in most cases.
VA also tends to carry lower interest rates. On an Orange County home, that gap compounds fast over 30 years. Rates vary by borrower profile and market conditions.
If you have a Certificate of Eligibility, use your VA benefit. It's one of the strongest loan programs available.
No military service? FHA is a solid option for buyers with limited savings or credit below 700. Just plan for the added insurance cost.
No — you pick one per transaction. VA-eligible borrowers should compare carefully, but VA usually wins on total cost.
No. VA loans allow zero down for eligible borrowers. No loan limit restrictions for full entitlement as of April 2026.
FHA accepts 580 with 3.5% down. VA has no official minimum, but most lenders in Orange County want at least 620.
If you put down less than 10%, FHA MIP stays for the life of the loan. VA has no monthly mortgage insurance at all.
Veterans should use VA. Non-military first-time buyers will find FHA more accessible with lower upfront cash requirements.
It's a one-time fee paid to the VA — not a monthly charge. Most borrowers roll it into the loan balance.