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in Graeagle, CA
Graeagle sits in Plumas County, where the median household income is $64,946. A new state park along the Feather River is drawing regional attention. FHA and VA loans both serve buyers who don't have 20% down, but they work very differently.
FHA requires a down payment as low as 3.5% and accepts credit scores as low as 580. VA offers zero down for eligible veterans and active-duty service members. Both are fixed-rate 30-year mortgages priced at 5.75% interest.
FHA at 5.75% works when you have modest savings but solid credit. The 3.5% down payment keeps cash in your pocket at closing.
The monthly payment is $4,377 on a $750,000 loan. FHA charges mortgage insurance (MIP) for the life of the loan if your down payment is under 10%.
VA at 5.75% is zero down for eligible veterans and active-duty service members. The monthly payment is $4,377 on a $750,000 loan.
VA replaces PMI with a funding fee. First-time users pay 2.15% of the loan amount; that fee rolls into the loan. No annual insurance premium follows.
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 Graeagle.
Graeagle sits in Plumas County, where the median household income is $64,946. A new state park along the Feather River is drawing regional attention. FHA and VA loans both serve buyers who don't have 20% down, but they work very differently.
FHA requires a down payment as low as 3.5% and accepts credit scores as low as 580. VA offers zero down for eligible veterans and active-duty service members. Both are fixed-rate 30-year mortgages priced at 5.75% interest.
FHA at 5.75% works when you have modest savings but solid credit. The 3.5% down payment keeps cash in your pocket at closing.
The down-payment gap is the biggest difference. FHA requires 3.5% down, while VA requires zero. That's meaningful cash you keep in the bank with VA.
FHA charges annual mortgage insurance for the life of the loan if you put down less than 10%. VA's funding fee is a one-time cost rolled into the loan. Over 30 years, FHA's annual MIP adds up; VA's single funding fee does not repeat.
Choose FHA if you have savings and want to keep more cash for closing costs. You'll qualify with a 580+ credit score. The process is straightforward for non-military buyers.
Choose VA if you're an eligible veteran or active-duty service member. Zero down means you keep all your savings intact. The funding fee is one-time, and you skip annual mortgage insurance entirely.
Yes. FHA accepts credit scores as low as 580 with a 3.5% down payment. A 620 score qualifies easily and may open better rate options.
Yes. You must have a Certificate of Eligibility from the VA to qualify. Active-duty service members, veterans, and surviving spouses can request one through the VA website.
At 5.75% interest (740 FICO, June 2026), both loans carry a $4,377 monthly P&I payment. The difference is in down payment and insurance: FHA requires 3.5% down plus annual MIP; VA requires zero down plus a one-time funding fee.
Yes, but only if you put down 10% or more. Below 10% down, MIP runs for the life of the loan. Refinancing to a conventional loan later can drop it.
The funding fee is 2.15% of the loan amount on a first-time VA purchase. It rolls into the loan balance, not your monthly payment. Your rate and payment are based on the total loan amount including the fee.