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in Laguna Beach, CA
Laguna Beach is one of the priciest coastal markets in Orange County. Choosing the wrong loan here costs you real money.
FHA and VA loans both carry government backing. But they serve very different borrowers — and the differences matter a lot.
FHA loans are open to almost any buyer. You need a 580 credit score for the 3.5% down option.
The catch is mortgage insurance. FHA charges both an upfront fee and a monthly premium — for the life of the loan in most cases.
VA loans have no down payment and no monthly mortgage insurance. That combination is hard to beat in a high-cost market like Laguna Beach.
You must have eligible military service. A Certificate of Eligibility confirms your status before we can proceed.
Local decision guide
Use this comparison to weigh FHA Loans and VA Loans through local payment fit, eligibility, documentation, and timing before choosing a path in Laguna Beach.
Laguna Beach is one of the priciest coastal markets in Orange County. Choosing the wrong loan here costs you real money.
FHA and VA loans both carry government backing. But they serve very different borrowers — and the differences matter a lot.
FHA loans are open to almost any buyer. You need a 580 credit score for the 3.5% down option.
The biggest gap is mortgage insurance. VA has none. FHA adds MIP every month, which cuts your buying power on pricier Laguna Beach properties.
VA also skips the down payment entirely. On a high-priced coastal home, that frees up serious cash for reserves or repairs.
If you served and you qualify for VA — use it. The monthly savings on a Laguna Beach purchase are substantial. Rates vary by borrower profile and market conditions.
FHA makes sense if you don't have VA eligibility. It's also a solid path if your credit needs work or you want a lower entry point.
Yes. VA loans have no set loan limit for eligible borrowers with full entitlement. High home prices in Laguna Beach don't automatically disqualify you.
Yes. FHA loan limits in Orange County are higher than the national baseline due to local home prices. Ask us for the current figure.
VA typically wins. No mortgage insurance premium means a lower payment even at a similar rate. Rates vary by borrower profile and market conditions.
Not on the same property. But if you qualify for VA, it almost always makes more financial sense than FHA in a high-cost market.
It's a one-time fee paid to the VA in place of mortgage insurance. You can roll it into your loan balance at closing.
Some sellers prefer conventional offers. But FHA appraisals and condition requirements can occasionally complicate deals on older coastal homes.