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in San Juan Bautista, CA
Both FHA and VA loans are government-backed. Both offer low or no down payment. But they serve very different borrowers.
FHA is open to almost anyone. VA is exclusively for veterans, active-duty service members, and surviving spouses. That distinction changes everything.
FHA loans need a 580 credit score for 3.5% down. Drop to 500-579 and you'll need 10% down instead.
Every FHA loan carries mortgage insurance — an upfront premium plus a monthly charge. That cost doesn't disappear when you hit 20% equity.
VA loans have no down payment requirement and no monthly mortgage insurance. For eligible borrowers, that's a significant cost advantage.
There is a VA funding fee — a one-time charge rolled into the loan. Disabled veterans are exempt from this fee entirely.
The biggest gap is mortgage insurance. FHA charges it monthly, indefinitely. VA doesn't charge it at all.
VA also wins on rates. VA loans consistently price lower than FHA. Over a 30-year loan, that spread adds up to real money.
If you've served, use your VA benefit. It's almost always the better financial deal in San Juan Bautista.
If you haven't served or exhausted your VA entitlement, FHA is a solid path — especially with a credit score under 640.
Yes, if you meet VA eligibility requirements. VA loans work anywhere in San Benito County with no county-specific restrictions.
VA has no loan limit for borrowers with full entitlement. FHA limits are capped by county. San Benito County limits apply to FHA loans.
FHA is more flexible on credit. VA eligibility depends on service history, but approved borrowers often find VA underwriting straightforward.
Yes. Both FHA and VA allow sellers to cover buyer closing costs. VA caps seller concessions at 4% of the purchase price.
Generally no — you'd have two separate primary residence loans. Talk to us about your specific situation before assuming you can't.