FHA

well, the "A" is the same in both, but one has an "FH" in front of its "A" while the other has only a "V" in front.

it's kind of like "brawny" versus "bounty" i think, also.

Sir, I can't comprehend you.

you are not alone; sometimes i cannot comprehend myself.

VA allows for 100% Financing, as apposed to FHA maxing at 96.5% on Purchase transactions.

:lol:

Well said George!! and your sense of 'logic' is absolutely spot-on!! you've aptly highlighted the 'very basic' difference between FHA and VA, which many of us fail to notice!! :lol:

... and thanks to you, James, for your sincere answer. I wish the original poster were half as sincere in his queries as you were in your answer.

hi frank,

there are major differences between FHA and VA loans

FHA stands for the Federal Housing Administration and is available to anyone as long as they meet income guidelines, and the property if FHA approved. it will allow 96.5% financing

VA is stand for the Veterans Administration, and VA loans are only available to veterans or people currently serving in the armed forces
it will allow 100%

thank you savior....i slaved over that answer...gave it deep thought, did copious research, wrote, rewrote, edited, rewrote again...and finally (!) felt confident enough in what i wrote to actually post it. it was pure agony, really.

i appreciate your kind words.

oh yeah...insofar as sincerity is concerned...my reply there was oh so sincere.

Simple questiosn got spinned around in so many ways

http://www.mortgagefit.com/homeloan/qualify-fha.html

http://www.mortgagefit.com/va-loan.html

Just check these two, it may help