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Richmond's parks are receiving multi-million dollar upgrades with new soccer fields and modern restrooms. These improvements funded by state and federal grants show ongoing community investment.
Contra Costa County's median household income of $125,727 supports purchases across Richmond's market. Community Mortgages serve local buyers with flexible qualification paths.
620+
Minimum FICO
3%
Minimum Down Payment
30-45 days
Typical Closing
$125,727
County Median Income
Community Mortgages in Richmond
Community Mortgages typically require 620+ FICO and accept down payments as low as 3%. Debt-to-income ratios run more flexible than conventional loans.
A household earning Contra Costa County's median income of $125,727 can support a purchase around $450,000 to $500,000. Community programs allow gift funds and non-traditional credit history.
Local decision guide
Use this guide to connect community mortgages eligibility, lender expectations, and local market factors before comparing payment options in Richmond.
Richmond's parks are receiving multi-million dollar upgrades with new soccer fields and modern restrooms. These improvements funded by state and federal grants show ongoing community investment.
Contra Costa County's median household income of $125,727 supports purchases across Richmond's market. Community Mortgages serve local buyers with flexible qualification paths.
Community Mortgages typically require 620+ FICO and accept down payments as low as 3%. Debt-to-income ratios run more flexible than conventional loans.
Community Mortgages sit between conventional and government loans in California. Brokers and some retail lenders offer these programs with faster underwriting than FHA.
Closing timelines typically run 30 to 45 days. Many lenders work with first-time buyers and borrowers with recent credit challenges.
Community Mortgages shine for Richmond buyers with solid income but imperfect credit. If your FICO sits between 620 and 680, this program often beats conventional overlays.
Above $1,249,125, jumbo loans require 20% down plus reserves. Below that, Community Mortgages compete well on flexibility for local borrowers.
Conventional loans demand 700+ FICO and stricter income verification. Community Mortgages accept lower credit scores and flexible documentation, trading a modest rate premium for accessibility.
FHA loans go lower on FICO (580+) and down payment (3.5%), but carry lifetime mortgage insurance if down payment is under 10%. Community Mortgages skip the insurance entirely.
Brentwood is breaking ground on a $155 million East County Service Center. This infrastructure investment signals confidence in East County growth and supports home values.
Richmond's park upgrades include new soccer fields and modern restrooms funded by state and federal grants. These improvements attract families and strengthen community appeal.
Community Mortgages typically require 620+ FICO. Conventional loans demand 700+, so this program opens doors for borrowers with fair credit.
Yes — Community Mortgages accept down payments as low as 3%. This keeps more cash in your pocket at closing compared to conventional loans.
Community Mortgages skip mortgage insurance entirely. FHA loans carry insurance for the life of the loan if you put down less than 10%.
Most Community Mortgages close in 30 to 45 days. That's faster than FHA underwriting and competitive with conventional loans.
Yes — Community Mortgages allow gift funds from family members for your down payment. You'll need a gift letter, but the funds don't need repayment.