Question 1

Can I use a VA loan in Montclair with no down payment?

Accepted Answer

Yes. Eligible veterans can buy in Montclair with zero down on a VA loan. No down payment minimum applies.

Question 2

Does FHA mortgage insurance ever go away?

Accepted Answer

Not automatically on most FHA loans. You typically need to refinance into a conventional loan to eliminate MIP.

Question 3

Which loan has a lower interest rate — FHA or VA?

Accepted Answer

VA rates generally run lower than FHA rates. Rates vary by borrower profile and market conditions.

Question 4

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 620.

Question 5

Can a surviving spouse use a VA loan in Montclair?

Accepted Answer

Yes. Eligible surviving spouses of veterans can qualify for VA loan benefits, including zero down payment.

Question 6

Which loan is better for a first-time buyer with no military service?

Accepted Answer

FHA is the go-to. Low down payment and flexible credit standards make it the most accessible option for civilian first-timers.

FHA vs VA Loans in Montclair, CA: Which One Wins for You?