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in Los Alamitos, CA
Los Alamitos sits close to Joint Forces Training Base. That means a real share of buyers here qualify for VA loans — and many don't realize it.
FHA and VA both offer government-backed financing. But they serve different borrowers, and the differences matter a lot at this price point.
FHA loans are insured by the Federal Housing Administration. They exist for buyers who lack a big down payment or have imperfect credit.
You need 3.5% down with a 580 credit score. Drop below 580 and you need 10% down. FHA is forgiving — but it comes with mortgage insurance costs.
VA loans are guaranteed by the Department of Veterans Affairs. Eligible veterans and active-duty members can buy with zero down and no private mortgage insurance.
The VA funding fee replaces mortgage insurance. It can be financed into the loan. For most borrowers, the monthly payment beats FHA handily.
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 Los Alamitos.
Los Alamitos sits close to Joint Forces Training Base. That means a real share of buyers here qualify for VA loans — and many don't realize it.
FHA and VA both offer government-backed financing. But they serve different borrowers, and the differences matter a lot at this price point.
FHA loans are insured by the Federal Housing Administration. They exist for buyers who lack a big down payment or have imperfect credit.
The biggest gap is mortgage insurance. FHA charges it every month — often for the full loan term. VA charges a one-time funding fee instead.
VA also has no official minimum credit score from the VA itself. Lenders set their own floors, usually around 620. FHA requires 580 for 3.5% down.
If you served, VA almost always wins. Lower monthly payment, no down payment, no mortgage insurance — the math rarely favors FHA for eligible veterans.
FHA makes sense for non-military buyers with limited savings or credit scores that need work. It's the clearest path to ownership for that profile in Orange County.
Yes, if you meet VA eligibility requirements. Many buyers near Joint Forces Training Base qualify. We verify eligibility before you start shopping.
VA loans typically carry lower rates than FHA. Rates vary by borrower profile and market conditions, so we always compare both.
Yes, but the seller can cover them. VA limits what lenders can charge you, which helps keep out-of-pocket costs down.
Both require the home to meet minimum safety and livability standards. VA appraisals can be slightly stricter in some cases.
Yes. If you gain VA eligibility after closing an FHA loan, you can refinance into a VA loan. We see this happen with new enlistments.
FHA at 580 is usually the better path. Some VA lenders go below 620, but options narrow quickly. Talk to us before assuming you don't qualify.