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Selma sits in Fresno County where the median household income of $71,434 supports homes in the mid-$700K range. At 5.875%, a $750,000 FHA purchase carries a $4,437 monthly payment for principal and interest.
The Tower District's Porchfest draws 400+ performances annually, signaling cultural investment nearby. That kind of activity matters to buyers weighing long-term neighborhood stability.
5.875%
Current FHA Rate
$4,437
Monthly P&I on $750K
3.5%
Minimum Down Payment
580
Minimum FICO Score
FHA Loans in Selma
FHA requires a 580 FICO minimum, though lenders often prefer 620+. A 740 FICO qualifies easily at 3.5% down on a $750,000 purchase in this price tier.
Fresno County's median household income of $71,434 covers typical FHA payments here. Debt-to-income limits run 43–50% depending on credit and reserves.
Local decision guide
Use this guide to connect fha loans eligibility, lender expectations, and local market factors before comparing payment options in Selma.
Selma sits in Fresno County where the median household income of $71,434 supports homes in the mid-$700K range. At 5.875%, a $750,000 FHA purchase carries a $4,437 monthly payment for principal and interest.
The Tower District's Porchfest draws 400+ performances annually, signaling cultural investment nearby. That kind of activity matters to buyers weighing long-term neighborhood stability.
FHA requires a 580 FICO minimum, though lenders often prefer 620+. A 740 FICO qualifies easily at 3.5% down on a $750,000 purchase in this price tier.
FHA lending in California remains steady through retail banks and mortgage brokers. Most lenders price FHA and conventional similarly, with FHA's lower down payment offsetting the lifetime mortgage insurance cost.
Underwriting timelines for FHA run 30–45 days on average. Appraisals must meet FHA property standards, which can slow rural purchases but rarely derail them in Selma.
FHA makes sense in Selma when you have limited savings but solid income. At $71,434 county median, a 3.5% down payment keeps cash in the bank while the 5.875% rate stays competitive.
Above $541,287, FHA caps out—you'd need conventional or jumbo. Below that limit, FHA's lower down payment usually beats conventional's 5–10% requirement.
Conventional loans typically require 5–10% down but skip lifetime mortgage insurance. FHA's 3.5% down saves cash upfront, but the mortgage insurance never cancels unless you refinance.
On a $750,000 purchase, conventional at 20% down runs no PMI. FHA at 3.5% down carries MIP for life—a real cost over 30 years, but the lower down payment frees capital now.
Fresno's restaurant scene is booming with 17+ new establishments in development. That kind of commercial growth signals neighborhood investment and can support home values over time.
Fresno State's annual Vintage Days and the Tower District's Porchfest draw crowds year-round. Buyers who value cultural activity and walkable dining find that appeal worth factoring into the purchase decision.
FHA lending in California remains the go-to for first-time buyers and repeat buyers with limited down-payment savings. Volume stays steady because the 3.5% down threshold opens doors that conventional lending closes.
Fresno County's median household income of $71,434 supports typical FHA payments here. Lenders report consistent approval rates for 620+ FICO applicants with stable employment.
The principal and interest payment is $4,437 per month on a $750,000 loan at 5.875% APR. Add property taxes, insurance, and mortgage insurance (MIP) for the total monthly cost.
No. FHA requires only 3.5% down with a 580+ FICO score. That's $27,202 on a $777,202 purchase—far less than conventional's typical 5–10% requirement.
MIP cancels after 11 years if you put 10%+ down. Below 10% down, MIP runs for the life of the loan unless you refinance into a conventional loan later.
FHA's floor is 580 FICO, but most lenders prefer 620+. A 740 FICO qualifies easily with the best pricing and terms available.
The 2026 FHA limit is $541,287. Purchases above that require conventional or jumbo financing.