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Beverly Hills sits in one of California's most expensive ZIP codes. Most properties trade well above FHA loan limits.
The 2024 FHA limit for Los Angeles County is $1,249,125. That rules out 90% of Beverly Hills listings.
Condos in older buildings south of Wilshire sometimes fall within range. So do small single-family homes near the city edges.
You'll compete with cash buyers and conventional loans. FHA appraisals add repair requirements that many sellers reject.
FHA Loans in Beverly Hills
FHA accepts 580 credit scores with 3.5% down. Drop to 500 credit and you need 10% down.
Debt-to-income can stretch to 50% with strong compensating factors. Recent bankruptcy or foreclosure? You can qualify after 2-3 years.
You'll pay upfront mortgage insurance (1.75% of loan amount) plus annual premiums (0.55%-0.85% depending on term and down payment).
That $1.1M purchase requires $38,500 down at minimum, plus $19,250 upfront MI, plus closing costs around $15,000.
Local decision guide
Use this guide to connect fha loans eligibility, lender expectations, and local market factors before comparing payment options in Beverly Hills.
Beverly Hills sits in one of California's most expensive ZIP codes. Most properties trade well above FHA loan limits.
The 2024 FHA limit for Los Angeles County is $1,249,125. That rules out 90% of Beverly Hills listings.
Condos in older buildings south of Wilshire sometimes fall within range. So do small single-family homes near the city edges.
Every major bank offers FHA, but their overlays differ. Some cap at 620 credit even though FHA allows 580.
Credit unions often handle manual underwrites better when you're borderline on ratios or have past credit events.
Portfolio lenders sometimes waive certain repair requirements that FHA appraisers flag. The appraisal itself still stands.
We shop 200+ lenders to find who actually approves your profile, not just who advertises the lowest rate.
Beverly Hills sellers see FHA as a red flag. They know the appraisal might kill the deal over chipped paint or handrail specs.
If you're FHA-only, target newer condos or recently renovated properties. Avoid fixer-uppers and vintage homes with deferred maintenance.
Get pre-approved with full underwriting before you shop. In this market, your offer needs to close fast or you lose to all-cash.
Consider putting 5% down instead of 3.5%. It drops your monthly MI and signals stronger finances to the seller.
Conventional loans require 620 credit and 3% down, similar to FHA. But PMI drops off at 78% LTV—FHA mortgage insurance lasts the loan's life under 10% down.
VA loans beat FHA if you qualify: zero down, no monthly MI, and sellers view them more favorably. USDA doesn't apply in Beverly Hills city limits.
Jumbo loans start where FHA stops. You'll need 10-20% down and 700+ credit, but no mortgage insurance at all.
FHA makes sense when your credit is under 620 or you need that 50% DTI flexibility. Otherwise, conventional usually costs less long-term.
Beverly Hills maintains strict building codes. FHA appraisers flag issues conventional appraisers ignore—decorative railings, garage door sensors, peeling exterior paint.
Condo approval matters. Your building needs FHA certification or the loan won't close. Many luxury towers never bother getting approved.
HOAs in Beverly Hills run $500-$2,000/month. That counts toward your debt ratio and can push you over 50% DTI fast.
Property taxes here run 1.2% of purchase price annually. Add Mello-Roos in certain areas. Budget $1,300/month minimum on a $1.1M purchase.
Only if it's under $1,249,125. Most properties here exceed that limit. Condos and smaller homes near city borders are your best options.
FHA appraisals flag repair issues that kill deals. Sellers prefer conventional or cash buyers who close faster with fewer contingencies.
FHA allows 580, but most lenders here overlay 620 minimums. We find lenders who actually approve at 580 with compensating factors.
Expect $15,000 in fees plus 1.75% upfront mortgage insurance. On $1.1M that's $34,250 total, separate from your down payment.
Only if the HOA maintains FHA approval. Many luxury buildings skip certification. Check approval status before making an offer.
Conventional wins if your credit exceeds 620. FHA works when you need low credit acceptance or higher debt-to-income flexibility.