Question 1

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

Accepted Answer

You need 580 minimum for 3.5% down. Scores of 500-579 require 10% down, but finding a willing lender gets difficult.

Question 2

Can I use an FHA loan on a San Dimas condo?

Accepted Answer

Yes, if the HOA has FHA approval. Many complexes lack certification, so verify before making offers.

Question 3

How much is FHA mortgage insurance in LA County?

Accepted Answer

You pay 1.75% upfront plus 0.55%-0.85% annually. On a $625k loan, expect $11k upfront and $285-$440 monthly.

Question 4

What's the FHA loan limit for San Dimas?

Accepted Answer

LA County's limit is $1,149,825 for single-family homes. Most San Dimas properties fall well below this ceiling.

Question 5

Can I get an FHA loan with a bankruptcy on my record?

Accepted Answer

Yes, two years after discharge with re-established credit. That's shorter than conventional's four-year wait.

Question 6

Do FHA loans require repairs before closing?

Accepted Answer

Yes, appraisers flag safety hazards and significant deterioration. Sellers must complete repairs or offer credit before funding.

FHA Loans in San Dimas: Low Down Payment Mortgages for LA County Buyers