Question 1

Can I use both FHA and VA loans at the same time?

Accepted Answer

No. You can only use one program per purchase. Most eligible veterans should default to VA for the cost savings.

Question 2

Do VA loans have stricter property requirements than FHA?

Accepted Answer

VA appraisals focus heavily on safety and habitability. FHA has similar rules but VA can be stricter on certain property conditions.

Question 3

Which loan is faster to close in Costa Mesa?

Accepted Answer

Both can close in 30 days with a prepared borrower. VA can slow down if the appraisal flags property issues.

Question 4

Is there a loan limit for VA loans in Orange County?

Accepted Answer

Borrowers with full VA entitlement have no loan limit. Reduced entitlement cases may have limits — we can check yours.

Question 5

Does FHA mortgage insurance ever go away?

Accepted Answer

On most FHA loans originated after 2013 with less than 10% down, MIP stays for the life of the loan. Refinancing removes it.

Question 6

Which loan has a lower credit score requirement?

Accepted Answer

FHA goes down to 500 with 10% down. VA has no official minimum, but most lenders want at least a 580 to 620.

FHA vs VA Loans in Costa Mesa: Which One Wins for You?