Question 1

What makes community mortgages different from FHA loans in Susanville?

Accepted Answer

Community programs allow higher debt ratios and accept alternative credit documentation. FHA requires traditional credit reporting and stricter employment verification.

Question 2

Can I qualify with past credit problems?

Accepted Answer

Yes, if you've maintained housing payments for 12+ months since the credit event. Lenders focus on recent payment behavior more than old collections or charge-offs.

Question 3

Do community mortgages have higher interest rates?

Accepted Answer

Rates run 0.25-0.75% higher than conventional loans but often match or beat FHA pricing. Your specific rate depends on credit score and down payment amount.

Question 4

How long does approval take in Lassen County?

Accepted Answer

Expect 21-35 days from application to closing. Rural appraisals sometimes add 5-7 days compared to metro markets, but the process moves faster than USDA loans.

Question 5

Can seasonal workers in Susanville qualify?

Accepted Answer

Yes, with 24 months documented seasonal work history. Lenders average your income across seasons and consider off-season savings or unemployment benefits.

Community Mortgage Programs in Susanville — Flexible Paths to Homeownership