Question 1

What's the FHA loan limit in South El Monte?

Accepted Answer

$1,149,825 for single-family homes in Los Angeles County. Duplexes, triplexes, and fourplexes have higher limits if you occupy one unit.

Question 2

Can I buy a fixer-upper with FHA in South El Monte?

Accepted Answer

Standard FHA loans require move-in condition. FHA 203(k) renovation loans exist but add complexity and higher rates most buyers avoid.

Question 3

How much is FHA mortgage insurance in South El Monte?

Accepted Answer

1.75% upfront premium plus 0.55%-1.05% annual premium. Your rate depends on loan amount, down payment, and term length.

Question 4

Do South El Monte sellers accept FHA offers?

Accepted Answer

Depends on property condition and market competition. Sellers worry about appraisal repair requirements that conventional loans skip.

Question 5

Can I use FHA for a South El Monte condo?

Accepted Answer

Only if the HOA maintains FHA approval status. Most smaller complexes never bother with certification, eliminating FHA financing.

FHA Loans in South El Monte: Low Down Payment Access to Affordable Housing