Question 1

What credit score do I need for FHA in San Fernando?

Accepted Answer

You need 580 for 3.5% down payment. Scores from 500-579 require 10% down, but most lenders won't approve below 580 regardless of FHA guidelines.

Question 2

How much is FHA mortgage insurance in San Fernando?

Accepted Answer

You pay 1.75% upfront (usually rolled into loan) plus 0.55-0.85% annually depending on loan amount and term. That's $150-250 monthly on a $400K loan.

Question 3

Can I use FHA for a duplex or triplex in San Fernando?

Accepted Answer

Yes, FHA covers 1-4 unit properties if you live in one unit. Same 3.5% down applies whether buying a house or fourplex.

Question 4

Do sellers in San Fernando accept FHA offers?

Accepted Answer

Most do, but cash and conventional offers compete better. Get pre-approved with underwriting review and offer quick closing to strengthen your position.

Question 5

How long does FHA approval take in San Fernando?

Accepted Answer

Expect 30-45 days from application to closing with a responsive lender. Appraisal delays or property condition issues add 1-3 weeks.

Question 6

What down payment assistance works with FHA here?

Accepted Answer

California and LA County offer down payment assistance programs that stack with FHA. Most require first-time buyer status and income limits around $150K.

FHA Loans in San Fernando: Low Down Payment Mortgages for First-Time Buyers