Question 1

What is the FHA loan limit in Los Angeles County?

Accepted Answer

LA County is a high-cost area, so FHA limits here exceed the national baseline. Contact SRK CAPITAL for the current limit — it affects your max purchase price.

Question 2

Can I use FHA to buy a duplex in Downey?

Accepted Answer

Yes. FHA covers 1-4 unit properties. You must live in one unit as your primary residence.

Question 3

How long does FHA mortgage insurance last?

Accepted Answer

For most FHA loans with less than 10% down, MIP lasts the full loan term. Put 10% down and it drops after 11 years.

Question 4

Does FHA allow gift funds for the down payment?

Accepted Answer

Yes — FHA allows 100% of the down payment to come from a gift. The donor must provide a signed gift letter.

Question 5

Can I use FHA if I had a past bankruptcy?

Accepted Answer

Chapter 7 requires a 2-year waiting period after discharge. Chapter 13 may qualify after 12 months of on-time plan payments with court approval.

Question 6

Why work with a broker for an FHA loan in Downey?

Accepted Answer

FHA rates aren't identical across lenders. SRK CAPITAL shops wholesale to find better pricing than most borrowers get walking into a bank. Rates vary by borrower profile and market conditions.

FHA Loans in Downey, CA — Low Down, Real Buying Power