Question 1

Can I use a VA loan to buy in Los Altos?

Accepted Answer

Yes, if you meet VA service requirements. VA loans have no set loan limit for eligible borrowers with full entitlement, which matters in high-cost areas.

Question 2

Does FHA cover high home prices in Santa Clara County?

Accepted Answer

FHA loan limits in Santa Clara County are higher than the national baseline. Confirm current limits before assuming your target price qualifies.

Question 3

Which loan has lower monthly payments?

Accepted Answer

VA loans typically win on monthly cost. No mortgage insurance premium means lower payments versus FHA at the same rate and loan amount.

Question 4

Do VA loans require a down payment in California?

Accepted Answer

No. VA loans allow zero down for eligible borrowers with full entitlement. That's a major advantage in a market like Los Altos.

Question 5

Can I have both an FHA and VA loan?

Accepted Answer

Not on the same property. Each loan covers one primary residence. Your eligibility and financial situation will determine which program fits best.

Question 6

What credit score do I need for each loan?

Accepted Answer

FHA requires 580 for 3.5% down, or 500 with 10% down. VA has no official minimum, but most lenders want 620 or higher. Rates vary by borrower profile and market conditions.

FHA vs VA Loans in Los Altos, CA