Question 1

Can I use a VA loan to buy in Del Mar?

Accepted Answer

Yes, if you meet VA eligibility. San Diego County has high VA loan limits that support Del Mar's price range.

Question 2

Does FHA require mortgage insurance forever?

Accepted Answer

On most FHA loans with less than 10% down, yes — the monthly premium lasts the life of the loan. Putting 10% down lets you drop it after 11 years.

Question 3

Which loan has lower monthly payments?

Accepted Answer

VA typically wins. No mortgage insurance and lower rates usually mean a lower payment. 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 a 620.

Question 5

Can surviving spouses use a VA loan in Del Mar?

Accepted Answer

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

Question 6

Can I use both programs if I qualify for VA?

Accepted Answer

You can only use one program per purchase. If you're VA-eligible, VA almost always beats FHA on total cost.

FHA vs VA Loans in Del Mar: Which One Works for You?