Question 1

Is Angels Camp eligible for USDA loans?

Accepted Answer

Much of Angels Camp falls within USDA-eligible rural zones. Always verify the specific property address on the USDA eligibility map before applying.

Question 2

Which loan has lower mortgage insurance?

Accepted Answer

USDA mortgage insurance is generally lower than FHA's. Over a 30-year loan, that difference adds up to real savings.

Question 3

Can I use USDA if I have a high household income?

Accepted Answer

No. USDA sets income limits based on household size and county. If you exceed the limit, FHA is the better route.

Question 4

What credit score do I need for each loan?

Accepted Answer

FHA allows scores as low as 500 with 10% down, or 580 with 3.5% down. Most USDA lenders want at least a 640.

Question 5

Do both loans allow seller concessions?

Accepted Answer

Yes. Both FHA and USDA allow sellers to contribute toward closing costs. This can reduce your out-of-pocket costs at closing.

Question 6

Which loan closes faster in Calaveras County?

Accepted Answer

FHA typically has a faster pipeline. USDA loans require an extra eligibility review that can add time to closing.

FHA vs USDA Loans in Angels Camp, CA