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in Plymouth, CA
Plymouth sits in rural Amador County where both FHA and USDA loans work well for most buyers. The big question: do you want to put 3.5% down with FHA or go zero-down with USDA?
Both programs offer easier credit qualifying than conventional loans. Your choice comes down to how much cash you have and whether you meet USDA's income limits.
FHA loans require just 3.5% down with credit scores as low as 580. You'll pay an upfront mortgage insurance premium of 1.75% plus annual premiums that stay for the loan's life on most purchases.
No income limits restrict who qualifies. FHA works anywhere in Plymouth regardless of property location or your household earnings.
USDA loans require zero down payment for rural properties. Plymouth qualifies as an eligible area under USDA maps, making most homes here accessible with no money down.
You must meet income limits based on household size and county median income. Credit minimums run around 640, though some lenders approve lower scores with compensating factors.
Down payment separates these loans most clearly. FHA needs 3.5% while USDA requires nothing upfront, saving you thousands on closing day.
USDA restricts who qualifies by income and where you buy. FHA has no such limits but asks for cash at closing. USDA also charges lower mortgage insurance than FHA in most scenarios.
Choose USDA if you meet income limits and want to preserve cash. The zero-down structure works perfectly for Plymouth buyers with steady income but limited savings.
Pick FHA if you exceed USDA income caps or want faster closing timelines. FHA approvals typically move quicker since underwriters don't verify rural eligibility or income restrictions.
Yes, Plymouth is USDA-eligible as part of rural Amador County. Most properties here qualify for zero-down USDA financing.
USDA typically costs less in annual mortgage insurance compared to FHA. The difference can save you $50-100 monthly on most loan amounts.
Absolutely. FHA has no income limits, making it the fallback when your household earnings exceed USDA caps.
FHA usually closes quicker since USDA requires additional rural eligibility verification. Expect 30-35 days for FHA versus 40-45 for USDA.
Yes. FHA allows up to 6% seller concessions while USDA permits 6% as well, helping cover your closing costs.