Question 1

Can I use FHA or VA for a cabin in the Trinity Alps area?

Accepted Answer

Both work if the property is a primary residence with year-round access. Recreational cabins without permanent utilities don't qualify for either program.

Question 2

Which program handles septic and well properties better?

Accepted Answer

Both require well testing and septic inspections. VA appraisers slightly more flexible with older systems if they're functional and safe.

Question 3

Does VA's zero down work on any Weaverville property price?

Accepted Answer

VA has a maximum loan limit for zero down ($766,550 in Trinity County for 2024). Above that, you need 25% down on the excess.

Question 4

How much does FHA mortgage insurance add monthly?

Accepted Answer

Typically 0.55%-0.85% of your loan amount annually, divided by 12. On $300,000 borrowed, expect $138-213 monthly for the loan's life.

Question 5

Can I refinance from FHA to VA later?

Accepted Answer

Yes, if you gain VA eligibility through service. The VA streamline refinance removes FHA's mortgage insurance without requiring a new appraisal in many cases.

FHA vs VA Loans in Weaverville: Which Government Program Fits Your Mountain Property Purchase?

FHA vs VA Loans in Weaverville: Which Government Program Fits Your Mountain Property Purchase?