Loading
in Maywood, CA
Maywood sits in dense Los Angeles County where most neighborhoods don't qualify for USDA financing. FHA loans work anywhere in the city, while USDA requires eligible zones and income caps.
Both programs help buyers with limited cash or credit challenges. The choice hinges on whether your target property meets USDA's location test and if you qualify under their income limits.
FHA loans require just 3.5% down with credit scores as low as 580. You'll pay mortgage insurance upfront and monthly, but you can buy anywhere in Maywood without zone restrictions.
These loans shine for buyers with modest credit or limited savings. Sellers accept FHA offers readily because most properties qualify and the program is well-understood.
USDA loans offer zero down payment if you qualify. You must buy in an eligible rural or suburban zone and your household income can't exceed area limits.
Monthly mortgage insurance costs less than FHA. The catch: very few areas in dense LA County qualify as rural, so most Maywood properties won't be eligible.
Down payment separates these programs most clearly. USDA requires nothing down while FHA asks for 3.5%. But USDA restricts where you can buy and caps your income.
Mortgage insurance costs differ too. USDA charges lower monthly premiums than FHA. Credit requirements run similar, though USDA lenders sometimes want 640 minimums versus FHA's 580 floor.
Check USDA eligibility first. If your target property sits in an eligible zone and your income qualifies, zero down beats 3.5% down. Most Maywood addresses won't pass the location test.
FHA becomes your default when USDA doesn't work. It covers the entire city with no income caps, making it the reliable choice for Los Angeles County buyers with limited savings.
Most of Maywood sits in densely populated LA County and won't meet USDA's rural designation. Check specific addresses with a broker to confirm zone eligibility.
USDA typically costs less monthly due to lower mortgage insurance and no down payment. Rates vary by borrower profile and market conditions.
Yes. FHA works on any property in Maywood regardless of location. It's the fallback when USDA zone eligibility fails.
Limits vary by household size and county. Most moderate-income families qualify, but high earners exceed the caps.
FHA officially allows 580 credit scores. USDA lenders often prefer 640 minimums, though both programs accommodate lower credit than conventional loans.