FHA loans let you buy with as little as 3.5% down. VA loans let eligible veterans and service members buy with zero down and no PMI. Both offer competitive rates and flexible qualifying standards.
FHA or VA — tell us which applies and we'll take it from there
By submitting, you agree to be contacted by Clavis Capital Group. NMLS# 2343894.
Select a program to see the full breakdown — guidelines, features, and who it's best for.
Backed by the Federal Housing Administration, FHA loans are designed to make homeownership accessible for buyers with lower credit scores or limited down payment savings. They're one of the most widely used loan programs for first-time buyers in California and Florida.
FHA loans require mortgage insurance premium (MIP) — both upfront (1.75%) and annual. Unlike conventional PMI, FHA MIP on loans with less than 10% down is permanent for the life of the loan.
The most common strategy: use FHA to get into the home, build equity, then refinance into a conventional loan once you hit 20% equity and eliminate MIP entirely.
Backed by the U.S. Department of Veterans Affairs, VA loans are one of the most powerful mortgage benefits available to eligible veterans, active duty service members, and surviving spouses. Zero down, no PMI, and competitive rates — with no loan limit for borrowers with full entitlement.
VA loan eligibility is based on your service history. Here are the general requirements — contact us and we'll help you obtain your Certificate of Eligibility (COE).
Active Duty Service Members — 90 consecutive days of active service during wartime, or 181 days during peacetime.
Veterans — Served 90 days during wartime or 181 days during peacetime, or 2 full years if served after 1980.
National Guard / Reserves — 6 years of service OR 90 days of active duty under Title 10 orders.
Surviving Spouses — Unremarried spouses of veterans who died in service or from a service-connected disability.
Disability Rating — Veterans with any service-connected disability rating have the VA funding fee waived entirely.
See how government-backed programs stack up against conventional financing across the factors that matter most.
| Feature | FHA | VA | Conventional |
|---|---|---|---|
| Minimum down payment | 3.5% (580+ FICO) | $0 Best | 3–5% |
| Mortgage insurance | MIP — life of loan (<10% down) | None Best | PMI until 20% equity |
| Minimum credit score | 580 Most flexible | 620 | 620 (best rates at 740+) |
| Max DTI | Up to 57% | Up to 60%+ | 45–50% |
| Loan limits | Up to $1,209,750 (CA/FL) | No limit (full entitlement) | $806,500 conforming |
| Who can use it | Anyone | Veterans / military only | Anyone |
| Seller can pay closing costs | Up to 6% | Up to 4% | Up to 3–9% (by LTV) |
| Streamline refinance | FHA Streamline | VA IRRRL | Not available |
Whether you're looking at FHA, VA, or not sure yet — fill out the form above or call us and we'll walk you through your options in one conversation.