Question 1

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

Accepted Answer

Yes. Eligible borrowers with full VA entitlement can buy with zero down. No down payment and no monthly mortgage insurance.

Question 2

What credit score do I need for an FHA loan?

Accepted Answer

580 gets you the 3.5% down option. Scores between 500 and 579 require 10% down.

Question 3

Does VA have a loan limit in San Diego County?

Accepted Answer

Not for borrowers with full entitlement. Partial entitlement situations may still face limits.

Question 4

Is the VA funding fee required?

Accepted Answer

Most borrowers pay it. Veterans with a service-connected disability rating are typically exempt.

Question 5

Which loan has lower monthly payments, FHA or VA?

Accepted Answer

VA usually wins. No monthly mortgage insurance keeps the payment lower, even at similar rates. Rates vary by borrower profile and market conditions.

Question 6

Can I use gift funds for an FHA down payment?

Accepted Answer

Yes. FHA allows the full down payment to come from a qualified gift. VA doesn't require a down payment at all.

FHA vs VA Loans in National City, CA