Question 1

Can I use VA if I already used it before?

Accepted Answer

Yes, your VA benefit restores after you sell or refinance out of the previous VA loan. You can use it multiple times throughout your life.

Question 2

Does FHA mortgage insurance ever drop off?

Accepted Answer

Only if you put down 10% or more at purchase. Then it cancels after 11 years. With 3.5% down it stays for the loan's entire term.

Question 3

Which loan has stricter property standards?

Accepted Answer

VA appraisals are slightly more demanding about safety and functionality. Both require homes to meet livability standards that can flag deferred maintenance issues.

Question 4

Can I avoid the VA funding fee?

Accepted Answer

Veterans with service-connected disabilities are exempt. Everyone else pays it, though you can roll it into the loan amount rather than paying upfront.

Question 5

Does FHA work for San Bruno condos?

Accepted Answer

Yes, if the complex is FHA-approved. VA has similar condo approval requirements. Check the project's status before making an offer.

FHA vs VA Loans in San Bruno: Which Government Loan Fits Your Situation?