Question 1

Is Larkspur eligible for USDA loans?

Accepted Answer

Most of Larkspur is not in a USDA-eligible zone. Check the official USDA eligibility map before assuming you qualify.

Question 2

What credit score do I need for FHA in Larkspur?

Accepted Answer

580 gets you 3.5% down. Scores between 500-579 require 10% down. Below 500, FHA is not an option.

Question 3

Do USDA loans have income limits?

Accepted Answer

Yes. USDA sets household income caps based on county and family size. Marin County limits are relatively higher, but they still apply.

Question 4

Which loan has lower mortgage insurance costs?

Accepted Answer

USDA's annual guarantee fee is typically lower than FHA's monthly MIP. But location eligibility matters before comparing costs.

Question 5

Can I use FHA to buy a condo in Larkspur?

Accepted Answer

Yes, but the condo project must be FHA-approved. Not all Larkspur condo complexes are on the approved list.

Question 6

Is there a loan limit for FHA in Marin County?

Accepted Answer

Yes. FHA sets county-level loan limits. Marin County limits are among the highest in California due to local home prices.

FHA vs USDA Loans in Larkspur, CA