Question 1

What's the FHA loan limit in Reedley?

Accepted Answer

Fresno County's FHA limit is $498,257 for single-family homes in 2024. Rates vary by borrower profile and market conditions.

Question 2

Can I use FHA for a fixer-upper in Reedley?

Accepted Answer

Yes, through the FHA 203(k) renovation loan. You finance purchase price plus repair costs in one mortgage with 3.5% down.

Question 3

How much is FHA mortgage insurance in Reedley?

Accepted Answer

You pay 1.75% upfront plus 0.55%-0.85% annually based on loan amount and term. This applies statewide, not just Reedley.

Question 4

Do Reedley sellers accept FHA offers?

Accepted Answer

Most do, but properties needing repairs sometimes face issues. FHA appraisals require fixes that conventional loans overlook.

Question 5

Can I buy a manufactured home with FHA in Reedley?

Accepted Answer

Yes, if it's on a permanent foundation and meets HUD standards. The home must be built after June 1976.

FHA Loans in Reedley: Low Down Payments for First-Time Buyers