Question 1

Can I use both FHA and VA loans?

Accepted Answer

No — you pick one per purchase. VA-eligible borrowers can choose FHA, but it rarely makes financial sense.

Question 2

Does VA require a down payment in Tulelake?

Accepted Answer

No. Full VA entitlement means zero down on any loan amount, including rural Siskiyou County properties.

Question 3

Which loan has stricter property requirements?

Accepted Answer

Both require the home to meet minimum safety standards. VA appraisals are often the stricter of the two.

Question 4

Is FHA mortgage insurance permanent?

Accepted Answer

On most FHA loans with less than 10% down, yes — it stays for the life of the loan unless you refinance.

Question 5

What credit score do I need for a VA loan?

Accepted Answer

VA sets no minimum. Most lenders want 580–620. Your score still affects the rate you're offered.

Question 6

What is the VA funding fee?

Accepted Answer

It's a one-time fee paid at closing — or rolled into the loan. Amount varies based on service and down payment.

FHA vs VA Loans in Tulelake, CA