Question 1

Is Bishop, CA eligible for USDA loans?

Accepted Answer

Much of Inyo County qualifies as USDA rural territory. Check the USDA property eligibility map or ask us to run it for your specific address.

Question 2

What credit score do I need for each loan?

Accepted Answer

FHA accepts scores as low as 500. USDA typically requires 640. FHA gives you more room if your credit needs work.

Question 3

Do USDA loans really require zero down?

Accepted Answer

Yes — no down payment is required. You may still pay closing costs, but those can sometimes be rolled into the loan or covered by seller concessions.

Question 4

Which loan has lower monthly mortgage insurance?

Accepted Answer

USDA's annual fee runs lower than FHA's mortgage insurance premium. Over a 30-year loan, that difference adds up significantly.

Question 5

Can I use FHA or USDA to buy a fixer-upper in Bishop?

Accepted Answer

FHA has a rehab product called the 203k for fixer-uppers. USDA also has a repair loan option, but both have specific property condition requirements.

Question 6

What are the income limits for USDA in Inyo County?

Accepted Answer

USDA limits are set at 115% of area median income for your household size. We can pull the current Inyo County figures for your situation.

FHA vs USDA Loans in Bishop, CA: Which Gets You In?