Question 1

What credit score do I actually need for FHA in Pico Rivera?

Accepted Answer

Most lenders want 580 minimum for 3.5% down. Some add overlays requiring 620, but we find lenders who follow true FHA guidelines at 580.

Question 2

How much mortgage insurance will I pay on an FHA loan?

Accepted Answer

1.75% upfront (usually rolled into the loan) plus 0.55%-0.85% annually. The annual premium stays for the loan's life with 3.5% down.

Question 3

Can I buy a condo in Pico Rivera with FHA?

Accepted Answer

Yes, if the condo project has FHA approval or qualifies for single-unit approval. We verify eligibility before you make an offer.

Question 4

Will FHA appraisers reject older Pico Rivera homes?

Accepted Answer

No, age doesn't matter. Appraisers check safety—roof, foundation, electrical, plumbing. Standard older homes almost always pass.

Question 5

Can I use FHA with bankruptcy or foreclosure in my past?

Accepted Answer

Yes, after waiting periods. Three years post-bankruptcy discharge, three years after foreclosure completion. Some exceptions allow shorter waits.

FHA Loans in Pico Rivera: Low Down Payment Access to Los Angeles County Homeownership