Question 1

Can I use a VA loan to buy in Camarillo with no money down?

Accepted Answer

Yes. VA loans allow 100% financing with no down payment. You'll still need to cover closing costs unless the seller agrees to pay them.

Question 2

Does FHA or VA have better mortgage rates?

Accepted Answer

VA loans typically offer lower rates than FHA. Rates vary by borrower profile and market conditions — get quotes for both if you qualify.

Question 3

What credit score do I need for a VA loan?

Accepted Answer

VA itself sets no minimum, but most lenders want 620 or higher. FHA allows down to 580 with 3.5% down.

Question 4

Is the VA funding fee required?

Accepted Answer

Most VA borrowers pay it. Veterans with a service-connected disability rating are exempt. It can be rolled into the loan amount.

Question 5

Can a veteran use FHA instead of VA?

Accepted Answer

Yes. Some veterans prefer FHA for specific reasons like a second loan or mixed eligibility. But VA usually costs less over time.

Question 6

Which loan is easier to qualify for in Ventura County?

Accepted Answer

FHA is more flexible on credit scores. VA is strict on eligibility but often easier on debt ratios for those who qualify.

FHA vs VA Loans in Camarillo: Which One Wins for You?