I continually have agents ask me if a VA buyer can use FHA financing instead of VA? There is no benefit to FHA financing, other than a higher monthly payment.
Anyone with decent income and good credit can qualify for a
Conventional or FHA loan. Only someone who served their Country, with an Honorable
Discharge can qualify for a VA loan.
- requires a pest inspection, but the Veteran can pay for
all of the repairs.
- does not allow a veteran to pay for certain fees, but the
lender can absorb those fees with a slightly higher interest rate.
- the benefit to the Veteran is a competitive interest
rate, lower than a Conventional loan, and there is no Mortgage
The VA Loan Limits are as follows: Santa Clara County $823,750 / San Mateo County $987,500 / San Francisco County $987,500 / Santa Cruz $688,750.
I can be reached at 650-701-7228 if you have questions. I've been closing VA loans since 1991.
Â© Copyright - 2013 Steve