Question 1

What is the FHA loan limit in Los Angeles County?

Accepted Answer

LA County is a high-cost area with elevated FHA limits. Contact us directly for the current ceiling — limits adjust annually.

Question 2

Can I use FHA to buy a condo in Lomita?

Accepted Answer

Yes, but the condo project must be FHA-approved. Many South Bay condo associations are not on the approved list.

Question 3

Do I have to pay mortgage insurance forever with FHA?

Accepted Answer

If you put down less than 10%, mortgage insurance stays for the loan's life. Put down 10% and it drops after 11 years.

Question 4

How fast can I close an FHA loan in Lomita?

Accepted Answer

Typically 21-30 days with complete documentation. FHA appraisals add a step — don't promise sellers a 14-day close.

Question 5

Can a seller pay my closing costs on an FHA loan?

Accepted Answer

Yes. FHA allows sellers to cover up to 6% of the purchase price in closing costs. Negotiate this into your offer.

Question 6

Is FHA a good fit if I'm self-employed in Lomita?

Accepted Answer

FHA works for self-employed borrowers but requires two years of tax returns. Low reported income is the most common deal-killer.

FHA Loans in Lomita, CA — Low Down, Real Access