Question 1

Which loan has lower monthly payments in Fairfax?

Accepted Answer

It depends on your down payment and credit score. Conventional wins long-term if you can drop PMI. Rates vary by borrower profile and market conditions.

Question 2

Can I use an FHA loan for a Fairfax fixer-upper?

Accepted Answer

Yes. FHA offers a 203k rehab loan for that. Conventional renovation loans exist too — compare both before deciding.

Question 3

What is the FHA loan limit for Marin County?

Accepted Answer

Marin County is a high-cost area with elevated FHA limits. Confirm the current cap with your broker — limits adjust annually.

Question 4

How long does FHA mortgage insurance last?

Accepted Answer

For most FHA loans with under 10% down, MIP lasts the full loan term. That's a real cost to factor into your comparison.

Question 5

Can I refinance from FHA to conventional later?

Accepted Answer

Yes, and many Fairfax buyers plan for exactly that. Once you hit enough equity, refinancing drops the MIP requirement entirely.

Question 6

Which loan is faster to close in Fairfax?

Accepted Answer

Conventional loans typically close faster. FHA requires an appraisal meeting specific condition standards, which can slow things down.

Conventional vs FHA Loans in Fairfax, CA