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in Redlands, CA
Redlands buyers choosing between FHA and VA loans are weighing two very different paths to homeownership. FHA requires a down payment as low as 3.5%, while VA offers zero-down financing for eligible veterans and active-duty service members.
Both programs work in Redlands, where the median household income in San Bernardino County is $82,184. The real difference isn't just the down payment—it's the insurance cost and how long you'll carry it.
FHA at 5.75% works when you have limited savings but solid credit. The 3.5% down minimum opens the door for buyers who can't wait to save 20%.
Monthly payment on a $750,000 loan is $4,377 principal and interest. This scenario assumes 740 FICO and 96.5% LTV on June 12, 2026. FHA's catch is mortgage insurance. If you put down less than 10%, MIP stays on your loan forever.
VA at 5.75% is built for veterans and active-duty service members who qualify. Zero down means you don't need savings to close.
The same $750,000 loan carries a $4,377 monthly payment. This scenario assumes 740 FICO on June 12, 2026. VA's trade-off is the funding fee instead of mortgage insurance. First-time users pay 2.15% of the loan amount.
The down-payment gap is the clearest split. FHA lets you start with 3.5% saved; VA asks for nothing upfront.
Both carry insurance costs rolled into the loan. FHA's MIP is permanent if you put down under 10%. VA's funding fee is a one-time hit, so the monthly payment stays flat.
Choose FHA if you're not military-eligible but have modest savings and solid credit. You earn around the San Bernardino County median or above.
Choose VA if you're a veteran, active-duty service member, or surviving spouse with a Certificate of Eligibility. Zero down means your savings stay intact for closing costs and repairs.
Yes. Surviving spouses with a Certificate of Eligibility can use VA loans with zero down. You'll need proof of the veteran's service and your marriage record.
Yes. FHA mortgage insurance cancels after 11 years if you put 10% or more down. Below 10% down, MIP stays for the life of the loan.
Both are $4,377 principal and interest at 5.75% on June 12, 2026. The difference is in the insurance: FHA carries mortgage insurance; VA carries a funding fee.
No. First-time VA users with zero down pay 2.15%. Subsequent uses cost 3.3%. If you have a VA disability rating of 10% or higher, the funding fee is waived entirely.
FHA requires 580 FICO minimum; VA typically expects 620+. Both programs can work with lower scores, but rates and terms may adjust. Ask your lender about overlays specific to your profile.