What is the difference between FHA and VA Loans? - ProProfs Discuss
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What is the difference between FHA and VA Loans?

Asked by Lynn , Last updated: Mar 31, 2022

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N. Reyes

N. Reyes

A good writer and orator as well.

N. Reyes
N. Reyes, Writer, B.ed, California

Answered Jun 18, 2020

You may be wondering if a VHA or FA loan is better. To come up with the right answer, you need to know what exactly are the differences between the two. When you say FHA, this is a type of mortgage that will make sure that those who are allowed to borrow will be able to purchase their homes with lower credit and for a lesser price than usual.

A mortgage is known to be a type of government-insured mortgage. The main goal of this is to make sure that different veterans, whether they are active or not, will be able to get the mortgages that they need. Even the families of veterans will be eligible to get this type of mortgage as long as they can show the right documents. Not everyone will be eligible to get a VA loan.

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