FHA Loan VS VA Home Loan

2 Replies

Hi Everybody

Im active duty military. Im looking to get the most out of my first home purchase in the Las Vegas or Henderson area. I will be moving to the Nevada area, in the beginning of March.

Originally, I intended on using my VA Home Loan (have been approved for $175K).

However, after a local Real Estate Meetup discussion, it was recommended that I could also use a FHA loan to buy a 4-unit building.

If I understood correctly, the justification to get a higher loan amount through an FHA loan was based on the profits coming in from the other 3 units.

Perhaps, through Nevada’s First Time Home Buyers Programs:

Home is Possible for Heroes

Mortgage Credit Certificate

I could get the FHA Loan's down payment taken care of…

I have a 711 credit score…

Any advice/thoughts is greatly appreciated!


If I wanted to use the FHA Loan, then I would go with the Home is Possible assistance program, NOT the Home is Possible for Heroes program

According to the website, Home is Possible for Heroes can only be used with the VA Home Loan or USDA Home Loan

Hi Vincent. One benefit to using your VA loan is that you will avoid paying any PMI. You should be able to use your VA loan on a 4 unit building as long as you occupy 1 unit for at least a year. At least in my experience most lenders don't count potential profits when factoring pre-approval amounts.