Question 1

What credit score do I need for a community mortgage in Clovis?

Accepted Answer

Most programs accept 580-620, though some lenders go lower with strong compensating factors. We check multiple lenders to find the best fit for your profile.

Question 2

Can I combine community mortgages with down payment assistance?

Accepted Answer

Yes. CalHFA and local Fresno County programs stack with community mortgages. This can reduce your out-of-pocket costs to under $5,000 in many cases.

Question 3

Do community mortgages have income limits in Clovis?

Accepted Answer

Most programs cap income at 80-120% of area median. Limits vary by program and household size, so we verify eligibility during pre-qualification.

Question 4

Are community mortgage rates higher than conventional loans?

Accepted Answer

Rates typically run 0.25-0.5% higher than conventional. The tradeoff is lower down payment and more flexible credit requirements.

Question 5

Which Clovis neighborhoods qualify for community mortgage programs?

Accepted Answer

Eligibility varies by lender and program. Some target specific census tracts, while others focus solely on borrower income regardless of property location.

Community Mortgages in Clovis — Programs Built for Local Homeownership