Question 1

What credit score do I need for FHA in Selma?

Accepted Answer

You need 580 for 3.5% down. Scores from 500-579 require 10% down, but most lenders won't approve below 580 regardless of down payment.

Question 2

Can I buy a fixer-upper with FHA in Selma?

Accepted Answer

Only if it meets FHA's minimum property standards. No peeling paint, functional utilities, and safe structure required. Consider FHA 203k for major repairs.

Question 3

How much are closing costs on FHA loans here?

Accepted Answer

Expect 2-3% of the loan amount. On a $250,000 loan, that's $5,000-$7,500. Sellers can contribute up to 6% toward your costs.

Question 4

Does FHA work for manufactured homes in Selma?

Accepted Answer

Yes, if the home meets FHA standards. Must be built after June 1976, on a permanent foundation, and classified as real property with the county.

Question 5

How long does FHA approval take in Fresno County?

Accepted Answer

Underwriting takes 3-5 days. Total closing averages 30-35 days. Appraisal delays and repair negotiations add the most time in Selma.

FHA Loans in Selma: Low Down Payment Home Financing for Fresno County Buyers