Question 1

Can I use both FHA and VA loans?

Accepted Answer

Not on the same property. You pick one. If you qualify for VA, it almost always makes more financial sense.

Question 2

Do VA loans have a minimum credit score?

Accepted Answer

The VA doesn't set a hard minimum, but most lenders want at least a 580-620. We shop across 200+ lenders to find the best fit.

Question 3

Is FHA slower to close than VA in Sacramento?

Accepted Answer

Not significantly. Both require property appraisals with government standards. Timeline depends more on the lender than the loan type.

Question 4

Can I avoid FHA mortgage insurance?

Accepted Answer

Not while you're in an FHA loan. You'd need to refinance into a conventional loan once you have enough equity.

Question 5

Who is exempt from the VA funding fee?

Accepted Answer

Veterans with a service-connected disability rating are exempt. Surviving spouses receiving dependency and indemnity compensation also qualify.

Question 6

Which loan is better for a Sacramento condo purchase?

Accepted Answer

Both work for condos, but the complex must be approved for the loan type. VA and FHA maintain separate approved condo lists.

FHA vs VA Loans in Sacramento: Which One Wins for You?