Question 1

Who qualifies for a community mortgage in Fortuna?

Accepted Answer

Buyers in designated underserved areas with moderate or low incomes. Credit and income thresholds vary by specific program.

Question 2

Do community mortgages have income limits?

Accepted Answer

Most do. Limits are tied to Humboldt County's area median income. Exceeding the cap disqualifies you from the program.

Question 3

Can I use down payment assistance with a community mortgage?

Accepted Answer

Yes. Many community programs are designed to layer with CalHFA or local grants. A broker can structure the combination correctly.

Question 4

Is my Fortuna address in a qualifying census tract?

Accepted Answer

It depends on the exact street. We check tract eligibility as the first step in the qualification process.

Question 5

How do community mortgages compare to FHA in cost?

Accepted Answer

Some community programs carry lower mortgage insurance costs than FHA. Total cost depends on the specific program and your loan size.

Community Mortgages in Fortuna, CA