Question 1

What credit score do I need for FHA in Concord?

Accepted Answer

You need 580 for 3.5% down. Scores between 500-579 require 10% down, but most lenders won't go below 580 regardless of down payment.

Question 2

Can I use FHA for a Concord condo?

Accepted Answer

Yes, if the HOA appears on FHA's approved list. About half of Concord's condo complexes qualify, so verify approval before making an offer.

Question 3

How much are FHA closing costs in Concord?

Accepted Answer

Expect 2-4% of the purchase price. The seller can contribute up to 6% toward your costs, which helps offset cash requirements.

Question 4

Does FHA work for fixer-uppers in Concord?

Accepted Answer

Standard FHA requires properties habitable at closing. Use FHA 203k renovation loans for homes needing significant repairs before move-in.

Question 5

How long does FHA approval take in Contra Costa?

Accepted Answer

Most files clear underwriting in 7-10 business days. Appraisals currently run 10-14 days in Concord depending on appraiser availability.

FHA Loans in Concord: 3.5% Down Gets You In