Question 1

Can I use both FHA and VA loans in Elk Grove?

Accepted Answer

Not on the same property. You pick one per purchase. VA-eligible borrowers almost always benefit more from using VA.

Question 2

Does VA really have no down payment requirement?

Accepted Answer

Correct — eligible borrowers can finance 100% of the purchase price. No down payment is required by the VA program.

Question 3

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 580–620.

Question 4

What is the VA funding fee?

Accepted Answer

It's a one-time fee the VA charges instead of monthly mortgage insurance. Most borrowers roll it into the loan balance.

Question 5

Do FHA loans have loan limits in Sacramento County?

Accepted Answer

Yes. FHA sets county-level loan limits each year. Your loan amount must fall at or below the Sacramento County limit to qualify.

Question 6

Which loan closes faster in Elk Grove?

Accepted Answer

Both can close in 30 days with a prepared borrower. VA loans require a VA appraisal, which can add a few days in busy markets.

FHA vs VA Loans in Elk Grove: Which One Fits You?