Question 1

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

Accepted Answer

You need 580 for 3.5% down. Scores 500-579 require 10% down, though most lenders won't go below 580.

Question 2

Can I use FHA to buy a fixer-upper in Pomona?

Accepted Answer

Standard FHA requires the home to be move-in ready. FHA 203k renovation loans allow repairs but add complexity and cost.

Question 3

How much are closing costs on a Pomona FHA loan?

Accepted Answer

Expect 2-3% of the purchase price. Sellers can contribute up to 6% toward your costs, which helps many buyers.

Question 4

Does FHA mortgage insurance ever go away?

Accepted Answer

Not on loans originated now. You'd need to refinance to conventional once you hit 20% equity to drop coverage.

Question 5

What's the maximum FHA loan amount in Pomona?

Accepted Answer

The LA County limit is $644,000 for single-family homes. That caps what you can borrow regardless of property price.

Question 6

Can I buy a multi-family property with FHA in Pomona?

Accepted Answer

Yes, up to four units if you occupy one. Loan limits increase to $1,237,575 for a fourplex in LA County.

FHA Loans in Pomona: Low Down Payment Access to Affordable LA County Housing