Loading
Loading
FHA Loans in Clovis
What's the monthly payment on a $750,000 FHA loan at today's rate?
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.
01
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
02
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.
Rate check
Tell us the price range, down payment and credit range you are working with. We compare every lender we work with and show you the options side by side.
03
California FHA lenders compete on rate and closing speed. Brokers typically close in 17 to 21 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.
04
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.
05
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.
06
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.
07
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.
FAQ
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.
Programs for first-time buyers that allow lower down payments and more forgiving credit and income rules.
Explore refinancing options to lower your rate, tap equity, or switch loan terms.
SRK CAPITAL in Fresno County
Our team of licensed mortgage brokers works Fresno County every week. Tell us where you are in the process and we will map out the loan, the timeline and the money you need at closing, with no obligation.
What working with us looks like
Licensed mortgage brokers
You talk with a broker, not a call center, from the first question to closing day.
17-21 day typical close
Most purchase loans close in 17-21 days once your paperwork is in.
Every county in California
We work across the state, including Fresno County, so local limits and rules are already familiar.
Financing solutions for rental properties, fix-and-flip projects, and real estate portfolios.
Mortgage programs with alternative income documentation for business owners and freelancers.
Federally insured or guaranteed programs (FHA, VA, USDA) that let lenders accept lower credit scores and smaller down payments.
Traditional mortgage options meeting standard lending guidelines with various term structures.
Alternative lending programs for borrowers who need flexible documentation or unique loan structures.
Side-by-side comparisons to help you choose the right mortgage program.
This page is for educational purposes only and does not constitute financial, legal, or tax advice. Mortgage rates, terms, and program availability can change and vary by borrower and property. Consult a licensed mortgage professional for guidance on your scenario.