Question 1

Can I buy a beachfront property in Hermosa Beach with an FHA loan?

Accepted Answer

Most beachfront properties exceed FHA loan limits of $1,149,825. However, condos and smaller beach-adjacent homes sometimes qualify if they meet price and property condition requirements.

Question 2

Do Hermosa Beach condo buildings qualify for FHA financing?

Accepted Answer

Only FHA-approved condo complexes qualify. Many smaller Hermosa Beach buildings lack certification. We can verify approval status before you make an offer.

Question 3

How does FHA mortgage insurance work in high-cost areas?

Accepted Answer

You'll pay 1.75% upfront (can be rolled into loan) plus annual premiums of 0.55%-0.85%. These rates stay the same regardless of location or home price.

Question 4

Will sellers in Hermosa Beach accept FHA offers?

Accepted Answer

Some sellers hesitate due to stricter appraisal requirements. Strong pre-approval, minimal contingencies, and quick closing timelines make FHA offers more competitive in this market.

Question 5

What credit score do I need for FHA in Hermosa Beach?

Accepted Answer

FHA allows 580+ for 3.5% down. Most lenders prefer 620+ for best rates and terms. Rates vary by borrower profile and market conditions.

FHA Loans in Hermosa Beach: Government-Backed Financing for Coastal Homeownership