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Do you get more money for a VA or FHA loan?

Can you qualify for more money if you use a VA or FHA loan instead of a conventional loan? Will this usually come at a higher interest rate? I have tried the home affordability calculators but they do not take into consideration different kinds of loans.
my question is will I be approved for a higher amount with a VA or FHA loan vs a conventional loan?

For example, if I would normally be approved for 150,000, would my approval amount for a VA or FHA amount be significantly higher?

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This entry was posted on Saturday, June 6th, 2009 at 8:18 am and is filed under FHA Calculator. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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    One Response to “Do you get more money for a VA or FHA loan?”

    1. Noneya says:
      June 6, 2009 at 8:18 am

      FHA and VA loans will generally have LOWER rates than conventional when you compare them apples to apples.
      Lets say you need a loan at 97% loan to value and you have a credit score of 620 the rate for a conventional loan with all of the lender adjustments will be higher than either FHA or VA.
      Conventional loans will also have a much higher monthly mortgage insurance payment.

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