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Our current home is just about paid off, and we are planning to purchase a larger home in a more $$$ area. I would really like to be able to buy the new home before selling our current one (I am an IC working at home & it will take some time to setup a new office), but I will not have a large down payment (< 10%) (I plan to use the home sale proceeds to pay down the new home principle) Our current home was financed VA (using my wife's VA) so I am thinking about using my VA for the new home. What is the current comparison between VA & FHA loans? Limits? If VA , should I attempt to pay my current home off instead of building a down payment? Thanks for any thoughts & info.

Martin Gotch
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