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Clovis buyers are watching Fresno's restaurant boom — 17 new establishments in development signal neighborhood investment. At 5.875%, a $750,000 FHA purchase runs $4,437 monthly (principal and interest).
The county's median household income of $71,434 stretches across the Central Valley's affordable market. FHA's 3.5% down requirement keeps cash in your pocket versus conventional 5% to 10%.
5.875%
Interest Rate
$4,437
Monthly P&I
580
Min FICO
3.5% minimum
Down Payment
1.75% of loan
Upfront MIP
FHA Loans in Clovis
FHA requires a 580 FICO minimum, though 740+ gets better pricing. Your down payment starts at 3.5% of the purchase price — that's $27,202 on a $777,202 home.
Fresno County's median household income of $71,434 supports homes in the $600,000 to $750,000 range comfortably. Debt-to-income limits run 43% to 50% depending on compensating factors.
Local decision guide
Use this guide to connect fha loans eligibility, lender expectations, and local market factors before comparing payment options in Clovis.
Clovis buyers are watching Fresno's restaurant boom — 17 new establishments in development signal neighborhood investment. At 5.875%, a $750,000 FHA purchase runs $4,437 monthly (principal and interest).
The county's median household income of $71,434 stretches across the Central Valley's affordable market. FHA's 3.5% down requirement keeps cash in your pocket versus conventional 5% to 10%.
FHA requires a 580 FICO minimum, though 740+ gets better pricing. Your down payment starts at 3.5% of the purchase price — that's $27,202 on a $777,202 home.
California FHA lenders compete on rate and closing speed. Brokers typically close in 30 to 45 days, while retail banks may take 45 to 60 days.
FHA loans above the county limit require manual underwriting and tighter scrutiny. The 2026 FHA limit in Fresno County is $541,287, so jumbo FHA purchases demand stronger documentation.
FHA pencils in Clovis when you're buying under $750,000 with less than 10% saved. The 3.5% down and lower credit floor beat conventional's 5% minimum and 620 FICO floor.
Above $750,000, conventional becomes smarter — you avoid lifetime mortgage insurance and the upfront MIP fee. At your purchase price, FHA's lifetime MIP costs real money over 30 years.
Conventional loans at this price require 5% to 10% down and a 620+ FICO. You'd put $38,860 to $77,720 down versus FHA's $27,202 — a meaningful gap if cash is tight.
FHA's trade-off is lifetime mortgage insurance (MIP) unless you refinance. Conventional at 20% down skips PMI entirely, but that's $155,440 down — far out of reach for most Clovis buyers.
Fresno's Tower District Porchfest draws 400+ performances across 100+ porch venues each year. That kind of neighborhood activity matters when you're buying a home — it signals community investment and walkable appeal.
Fresno State's Vintage Days and the restaurant boom show Central Valley momentum. Buyers in Clovis benefit from proximity to these cultural anchors without paying coastal premiums.
FHA lending in California remains steady as buyers with limited down payment savings seek approval. Central Valley markets like Clovis see consistent FHA volume because median incomes support the price range.
HUD recently rolled out 14 FHA single-family updates covering origination, servicing, and quality control. These changes tighten documentation standards but don't shift rates or approval timelines meaningfully.
At 5.875% APR on a $750,000 loan, your principal and interest payment is $4,437 monthly. Add property taxes, insurance, and MIP — total housing cost typically runs $5,200 to $5,600.
Yes — 10% or more down lets MIP cancel after 11 years. Below 10% down, MIP stays for the life of the loan unless you refinance.
FHA requires 580 FICO minimum, so 600 qualifies. Better rates lock in at 640+, and 740+ gets the best pricing available.
The 2026 FHA limit for Fresno County is $541,287. Loans above that cap require manual underwriting and stricter documentation.
Upfront MIP is 1.75% of your loan amount. On a $750,000 loan, that's $13,125, which rolls into your loan balance.