Question 1

What is the FHA loan limit in Alameda County?

Accepted Answer

FHA sets county-level limits that cap your loan amount. Check HUD's current limit for Alameda County before targeting a price range.

Question 2

Can I use FHA to buy a condo in Oakland?

Accepted Answer

Yes, but the condo project must be FHA-approved. Many Oakland condo buildings aren't on the approved list — verify before making an offer.

Question 3

Does FHA mortgage insurance ever go away?

Accepted Answer

Not automatically. If you put less than 10% down, MIP stays for the life of the loan. Refinancing into conventional is how most borrowers exit it.

Question 4

How does FHA compare to conventional in Oakland?

Accepted Answer

FHA accepts lower credit scores and smaller down payments. Conventional is cheaper long-term if your credit is strong and you can put 5-10% down.

Question 5

Will Oakland sellers accept FHA offers?

Accepted Answer

Most will. In slower markets, FHA offers compete fine. A clean pre-approval and solid earnest money deposit address most seller concerns.

Question 6

What credit score do I need for FHA in Oakland?

Accepted Answer

580 gets you 3.5% down. Scores between 500 and 579 require 10% down. Below 500, FHA won't approve the loan.

FHA Loans in Oakland, CA — Low Down, Real Access