Equity Home Loans

VA or FHA home loan?

I put in a contract that was accepted saying that I was going to use VA. Do I have to use it or can I change to FHA? Also for someone with credit over 700 and a down payment of 3% what one would be better to use?

Public Comments

1. VA requires less for a down payment. Other than that, not sure of its benefits. "Cal VA" has even better deals. ON a contract, the key components are address of property, and buyer's name. What financing you use are not "important" parts of the contract and I would argue should not even be part of the contract. Being pre-qual'd is important but should not be in the contract.
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