Question 1

Does Markleeville qualify for USDA loans?

Accepted Answer

Alpine County is among California's most rural areas. Most properties there are likely USDA-eligible, but confirm with a broker before assuming.

Question 2

What are the income limits for USDA in Alpine County?

Accepted Answer

USDA income limits vary by household size and county. Check the USDA eligibility map for Alpine County's current thresholds.

Question 3

Can I use an FHA loan on a rural property?

Accepted Answer

Yes. FHA has no rural or urban restrictions. Any primary residence that meets FHA property standards can qualify.

Question 4

Which loan has lower mortgage insurance costs?

Accepted Answer

USDA's annual fee is typically lower than FHA's monthly MIP. Over a 30-year loan, that difference adds up significantly.

Question 5

Do both loans allow lower credit scores?

Accepted Answer

FHA accepts scores down to 580 for 3.5% down. USDA lenders generally want 640+, though some exceptions exist.

Question 6

Can I use either loan for a vacation or second home?

Accepted Answer

No. Both FHA and USDA require the property to be your primary residence. Investment or vacation use disqualifies the loan.

FHA vs USDA Loans in Markleeville, CA