Eligibility
Service record or credit profile reviewed so we know which program fits before you shop.
Buying a home
FHA and VA loans
Government backed options with flexible credit and low down payments
The short version
FHA loans allow a 3.5% down payment with credit scores well below what conventional pricing rewards. VA loans let eligible service members and veterans buy with no down payment and no monthly mortgage insurance, and in high cost counties the entitlement stretches far enough to matter.
No down payment required on VA for eligible borrowers
No monthly mortgage insurance on VA loans at any down payment
FHA accepts higher debt ratios than most conventional programs
Both programs allow the seller to contribute toward closing costs
What you get on this program
The work that sits behind the rate quote.
Entitlement review
For VA files I pull the certificate of eligibility and confirm how much entitlement is left if you have used it before.
Condo project checks
FHA and VA both keep approved project lists. I check the building before you write, not after.
Appraisal repair guidance
Government appraisals flag health and safety items. I tell your agent what to expect so repairs are negotiated early.
Funding fee planning
The VA funding fee can be financed or waived with a disability rating. We calculate both paths.
How this one runs
The same sequence every time, adapted to the program.
Approval
Full document pre approval with the program clearly named on the letter.
Property review
Project approval or appraisal condition review specific to the government program.
Close
Typically 25 to 30 days on a government file, a little longer than conventional.
What moves your pricing
Four levers underwriting looks at on this program, and what each one is worth.
| Factor | What it means for you |
|---|---|
| Property condition | Peeling paint, missing handrails and broken windows will be called out by the appraiser. |
| Loan limits | Santa Clara County limits are among the highest in the country, which makes these programs usable here. |
| Occupancy | Both programs are for primary residences only. |
| Mortgage insurance | FHA carries an upfront premium plus a monthly premium for the life of most loans. |
Programs people compare this with
First home purchase
Low down payment paths, gift funds and a plan you can follow
- 3% to 5% down options
- Gift funds welcome
- Free planning calls before you are ready
6.125%sample rate, 6.410% APR
Conforming and high balance
The workhorse loan for most Bay Area buyers
- 3% down for first time buyers
- Fastest underwriting
- PMI drops off automatically
6.125%sample rate, 6.284% APR
Rate and term refinance
Lower the payment, shorten the term, or drop mortgage insurance
- No cash out
- 15, 20 and 30 year terms
- Mortgage insurance removal reviews
6.000%sample rate, 6.147% APR
FHA and VA loans: the questions I get
Straight answers, including the parts other lenders leave out.
Still stuck on something
Call (408) 555-0124 or book a 20 minute slot. No documents needed for the first conversation.
Yes. With full entitlement there is no loan limit on VA, so a qualified buyer can purchase well above the conforming cap with no down payment.
In a competitive listing it can be a hurdle. A full underwritten approval and a call from me to the listing agent closes most of that gap.
Yes, and many buyers do once they reach 20% equity so the monthly insurance premium goes away.
Run your own numbers with me
Twenty minutes on fha and va loans and whether it is really the right tool for your situation.
Sample figures across this site are illustrations, not quotes. Equal Housing Opportunity.