Question 1

What credit score do I need for FHA in Oakley?

Accepted Answer

You need 580 for 3.5% down. Scores from 500-579 require 10% down, which most buyers skip in favor of building credit first.

Question 2

Can I use FHA on new construction in Oakley?

Accepted Answer

Yes, and builders here often accept FHA without resistance. New builds pass appraisals cleaner than resale homes.

Question 3

How much is FHA mortgage insurance in Oakley?

Accepted Answer

FHA charges 1.75% upfront plus 0.55%-0.85% annually depending on loan amount and term. These rates apply nationwide, not just locally.

Question 4

Do Oakley sellers reject FHA offers?

Accepted Answer

Not typically. This price range sees plenty of FHA buyers, so sellers expect them. VA draws more pushback than FHA does here.

Question 5

Can I buy a condo in Oakley with FHA?

Accepted Answer

Only if the complex appears on FHA's approved list. Many smaller HOAs don't bother getting approved, limiting your options.

FHA Loans in Oakley: Low Down Payment Access to Contra Costa Housing