Question 1

Can I use a VA loan in Santa Clara with no money saved?

Accepted Answer

Yes. VA requires zero down payment. You'll still need funds for closing costs, but sellers can cover those.

Question 2

Does FHA have loan limits in Santa Clara County?

Accepted Answer

Yes. FHA loan limits apply by county. Santa Clara County has high-cost limits — confirm current limits before you shop.

Question 3

What's the VA funding fee and can I avoid it?

Accepted Answer

It's a one-time fee rolled into your loan. Disabled veterans are typically exempt — confirm your status with your lender.

Question 4

Which loan has a lower interest rate, FHA or VA?

Accepted Answer

VA rates are often lower than FHA rates. Rates vary by borrower profile and market conditions.

Question 5

Can I have both FHA and VA eligibility?

Accepted Answer

Yes. If you qualify for VA, you can still choose FHA. Most veterans do better with VA when comparing total monthly cost.

Question 6

Do VA loans take longer to close in Santa Clara?

Accepted Answer

Not necessarily. VA appraisals have specific requirements, but experienced lenders close VA loans on standard timelines.

FHA vs VA Loans in Santa Clara, CA