which loan is normally cheaper va or fha ?

I would much prefer the use of "lower cost" or more affordable...as I think that is what you mean! Ultimately if you qualify for either of the two loans you are generally going to save more money in doing a 100% V A purchase loan. An FHA purchase loan requires a minimum of 3.5% down payment. Other than that there are ways to minimize even further how much money you have to come up with for either a VA loan or FHA. Asking for some seller credit towards closing costs and some lender credit can minimize the amount you have to come up with for closing costs and property tax and insurance impounds for either type of loan. You can possibly qualify for our down payment assistance or grant programs to further minimize the money you have to come up with for an FHA loan. www.graylending.com

Jerome,I forgot to mention that with a V A loan you do not have a monthly mortgage insurance which reduces the size of your monthly payment! www.graylending.com

If you qualify for a VA loan, that is generally the best option to go with. VA loans require no money down and do not require mortgage insurance. Get a quote for both programs from several lenders to compare costs.

If you qualify for a VA home loan, then that loan program will have less of an upfront cost to get into the home. VA will go up to 100% financing, meaning no down payment requirement. FHA requires, at a minimum, a 3.5% down payment. VA will also allow for a lower monthly payment as no monthly mortgage insurance is required. FHA is going to have a 1.75% annual premium financed into the loan, as well as a 1.35% monthly mortgage insurance added to your monthly amount.