Question 1

What credit score do I need for FHA in Moraga?

Accepted Answer

You need 580 for 3.5% down or 500-579 for 10% down. Some lenders add overlays requiring 620, but we access lenders who follow standard FHA minimums.

Question 2

Can I use FHA for a Moraga condo?

Accepted Answer

Yes, if the HOA is FHA-approved. We check approval status before you waste time on a property that won't qualify for FHA financing.

Question 3

How much can I borrow with FHA in Contra Costa County?

Accepted Answer

The limit is $644,000 for a single-family home in 2024. Duplexes, triplexes, and fourplexes have higher limits if you're buying a multi-unit property.

Question 4

Does FHA work for higher-priced Moraga homes?

Accepted Answer

Only if the home is under $644,000. Most detached homes here exceed that, making conventional or jumbo loans better fits for higher price points.

Question 5

What are FHA mortgage insurance costs?

Accepted Answer

You pay 1.75% upfront (often rolled into the loan) plus 0.55-0.85% annually. That annual premium stays for the loan's life with 3.5% down.

FHA Loans in Moraga: Low Down Payment Access to Contra Costa Living