VA vs FHA Mortgage Loans
Friday, May 21st, 2010VA and FHA mortgage loans offer many unique benefits to consumers in the United States, but there are a few differneces between the two home loan products. FHA mortgage loans are available to borrowers from a non-military background through the Federal Housing Administration and are similar to VA loans in that they are secured. FHA loans do require a 3.5% down-payment. So on a $300,000 loan, the FHA borrower would be required to come up with a $10,500 down-payment. The VA loan is a 100 percent loan to value option. If you go with the VA loan would save a qualified borrower $10,500 because it is a no money down loan. FHA mortgage loans also require mortgage insurance. The Read the original article online > Comparing VA loans to FHA Mortgage Loans
