Question 1

Can I use VA and FHA loans simultaneously?

Accepted Answer

No, you pick one loan type per purchase. If you qualify for VA, use it—the savings beat FHA on nearly every Foster City deal we've closed.

Question 2

Does FHA mortgage insurance ever cancel?

Accepted Answer

Only if you put down 10% or more, then it cancels after 11 years. With 3.5% down, it stays for the loan's life unless you refinance.

Question 3

Can VA loans cover Foster City's higher prices?

Accepted Answer

Yes, the 2026 San Mateo County limit is $1,149,825. Above that, you'd need a jumbo VA loan or bring cash for the difference.

Question 4

Which program has faster closings?

Accepted Answer

Both take 30-45 days typically. VA appraisals add 3-5 days but not enough to matter in most Foster City transactions.

Question 5

Do sellers prefer FHA or VA offers?

Accepted Answer

Many favor conventional, but between these two, VA often wins. No appraisal gap risk and faster processing make VA competitive in multiple-offer scenarios.

FHA vs VA Loans in Foster City: Which Government Loan Fits Your Budget?