Question 1

Can I use both FHA and VA on the same purchase?

Accepted Answer

No. You pick one. Most VA-eligible buyers in Lemon Grove benefit more from VA due to the zero-down and no mortgage insurance terms.

Question 2

Does VA have a loan limit in San Diego County?

Accepted Answer

VA no longer has hard loan limits for borrowers with full entitlement. You can borrow above conforming limits with no down payment if you qualify.

Question 3

Is the VA funding fee avoidable?

Accepted Answer

Veterans with a service-connected disability rating are exempt from the funding fee. Others can finance it into the loan amount.

Question 4

Which loan is faster to close?

Accepted Answer

Both are similar in timeline. VA requires a VA appraisal, which can add a few days. An experienced lender minimizes the difference.

Question 5

Can I refinance an FHA loan into a VA loan later?

Accepted Answer

Yes. If you gain VA eligibility, you can refinance out of FHA into VA and drop mortgage insurance. Many borrowers in San Diego do exactly that.

Question 6

What credit score do I need for VA in Lemon Grove?

Accepted Answer

VA sets no official minimum. Most lenders require 620. A broker with multiple VA lenders can find options if your score is lower.

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