Question 1

What credit score do I need for an FHA loan in Los Angeles?

Accepted Answer

Most lenders require a minimum 580 credit score for 3.5% down. Scores between 500-579 may qualify with 10% down, though fewer lenders accept this range.

Question 2

How much can I borrow with an FHA loan in LA County?

Accepted Answer

FHA loan limits in Los Angeles County exceed the national baseline due to higher housing costs. Your specific borrowing amount depends on income, debts, and credit profile.

Question 3

Can I use FHA financing for a condo in Los Angeles?

Accepted Answer

Yes, but the condo complex must appear on FHA's approved list. Many LA buildings qualify, though older or smaller complexes may not meet requirements.

Question 4

Do FHA loans work for investment properties in LA?

Accepted Answer

No, FHA loans require the property to serve as your primary residence. You must occupy the home within 60 days of closing and live there for at least one year.

Question 5

How does FHA mortgage insurance work?

Accepted Answer

FHA charges 1.75% upfront plus annual premiums between 0.45-1.05% depending on loan terms. This insurance protects lenders and enables lower down payments for borrowers.

FHA Loans in Los Angeles: Access Homeownership with Low Down Payments