Question 1

What is the FHA loan limit for Madera County?

Accepted Answer

FHA sets limits by county each year. Check HUD's current schedule for Madera County — limits adjust annually and affect your max purchase price.

Question 2

Can I use gift money for my FHA down payment in Chowchilla?

Accepted Answer

Yes. FHA allows 100% of the down payment to come from a gift. The donor must provide a signed letter stating no repayment is expected.

Question 3

Does FHA mortgage insurance ever go away?

Accepted Answer

Not if you put less than 10% down — you pay it for the full loan term. Putting 10% or more down lets it drop off after 11 years.

Question 4

How long does FHA approval take in Chowchilla?

Accepted Answer

Most FHA closings run 30-45 days. Appraisal scheduling in smaller markets can add time — plan accordingly when writing your offer.

Question 5

Can FHA be used to buy a fixer-upper in Chowchilla?

Accepted Answer

The FHA 203(k) rehab loan covers purchase plus renovation in one loan. It's a strong option for older Chowchilla inventory needing updates.

Question 6

Is FHA a good fit if I'm self-employed?

Accepted Answer

It can be. FHA requires two years of self-employment tax returns. Your qualifying income is based on net earnings, not gross revenue.

FHA Loans in Chowchilla, CA — Low Down, Real Approval