Question 1

What credit score do I need for FHA in Martinez?

Accepted Answer

You need 580 minimum for 3.5% down. Some Martinez lenders require 600-620 despite FHA allowing 580—we find lenders who actually fund at 580.

Question 2

Can I use FHA on a Martinez condo?

Accepted Answer

Only if the complex is FHA-approved. Many Martinez condos aren't approved—check before making offers or you'll waste inspection money.

Question 3

How much are FHA closing costs in Martinez?

Accepted Answer

Expect 2-3% of purchase price. On $500,000 that's $10,000-$15,000, but sellers can credit up to 6% toward your costs.

Question 4

Does FHA work for Martinez fixer-uppers?

Accepted Answer

Not for major renovation projects. FHA requires properties habitable at closing—use FHA 203k rehab loans for houses needing substantial work.

Question 5

What's the FHA loan limit in Contra Costa County?

Accepted Answer

$806,500 for single-family homes in 2024. Most Martinez properties fall under this, but waterfront or hilltop homes may exceed limits.

Question 6

How long does FHA approval take in Martinez?

Accepted Answer

Plan 30-45 days from accepted offer to closing. Appraisal repairs add 1-3 weeks if the appraiser flags property issues.

FHA Loans in Martinez: Low Down Payment Access to Contra Costa County