Question 1

What are the FHA loan limits in Marin County?

Accepted Answer

Marin County qualifies as a high-cost area, so FHA limits are elevated. Still, many Ross homes exceed even those higher caps.

Question 2

Can I use an FHA loan to buy in Ross?

Accepted Answer

Only if the purchase price falls within Marin County's FHA limit. Most Ross listings run high enough to require conventional or jumbo financing.

Question 3

Does FHA mortgage insurance ever go away?

Accepted Answer

On most FHA loans, it doesn't. If you put less than 10% down, mortgage insurance stays for the life of the loan.

Question 4

What credit score do I need for a conventional loan?

Accepted Answer

Lenders require at least 620. But 740 or higher is where you see the best rates and lowest PMI tiers.

Question 5

Which loan has lower monthly payments in Ross?

Accepted Answer

Usually conventional, once you factor in FHA's mortgage insurance. Strong credit buyers save more with conventional on high-priced homes.

Conventional vs FHA Loans in Ross, CA