Question 1

Can I use a VA loan to buy in Huntington Beach?

Accepted Answer

Yes, if you meet VA eligibility requirements. Huntington Beach falls within Orange County's VA loan limits, which are tied to conforming limits.

Question 2

Does FHA require mortgage insurance forever?

Accepted Answer

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

Question 3

Which loan has a lower interest rate?

Accepted Answer

VA loans typically carry lower rates than FHA. Rates vary by borrower profile and market conditions — get quotes on both before deciding.

Question 4

What credit score do I need for each loan?

Accepted Answer

FHA requires 580 for 3.5% down. VA has no official minimum, but most lenders want at least a 620 credit score.

Question 5

Can a veteran use FHA instead of VA?

Accepted Answer

Yes. Some veterans prefer FHA for specific reasons. But VA usually offers better terms — we'll show you both side by side.

Question 6

What is the VA funding fee?

Accepted Answer

It's a one-time fee charged at closing instead of monthly MIP. It can be financed into the loan, and some veterans are exempt.

FHA vs VA Loans in Huntington Beach: Which One Wins?