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in Ross, CA
Ross sits at the top of Marin's real estate market with estate homes that often exceed FHA loan limits. Most buyers here use conventional financing because FHA caps at $1,149,825 in high-cost counties.
That said, FHA can work for specific situations in Ross—like smaller cottages or buyers stretching to get in. The right choice depends on your down payment, credit profile, and property type.
Conventional loans dominate Ross transactions because they scale with property values and avoid mortgage insurance at 20% down. Rates vary by borrower profile and market conditions, but you typically get better pricing than FHA at higher credit scores.
You need 620 minimum credit, though most Ross buyers bring 740+. Down payments start at 3%, but you'll pay PMI until you hit 20% equity. No upfront funding fees like FHA charges.
FHA accepts 580 credit scores with just 3.5% down. You pay 1.75% upfront mortgage insurance plus 0.55%-0.85% annually for the loan's life. That upfront fee gets rolled into your loan amount.
The real constraint in Ross is the $1,149,825 loan limit. This eliminates FHA for most properties here. Where it works: smaller homes, or buyers who need the lenient credit and income standards.
Credit standards separate these loans most. Conventional wants 620+ and rewards high scores with rate breaks. FHA takes 580 but charges everyone similar mortgage insurance regardless of credit strength.
Loan limits matter more in Ross than most cities. Conventional scales up through jumbo territory without caps. FHA stops at $1,149,825, which prices out most Ross inventory. Mortgage insurance structure differs too—conventional cancels at 20% equity, FHA sticks around permanently.
Go conventional if your property exceeds $1,149,825 or you have 20%+ down. You'll skip mortgage insurance entirely and get better rate pricing with decent credit. Most Ross transactions fall here by default.
FHA makes sense in limited scenarios: you're buying one of the rare sub-$1.2M properties, your credit sits between 580-680, or you need maximum debt-to-income flexibility. Just know that permanent mortgage insurance eats into your monthly budget long-term.
No. FHA caps at $1,149,825 in Marin County. You need conventional or jumbo financing above that amount.
Minimum 620, but expect 740+ for competitive rates on high-balance loans. Lower scores pay significantly higher rates.
Not with 3.5% down. It stays for the loan's life unless you refinance to conventional after building 20% equity.
FHA adds 1.75% upfront mortgage insurance to your loan amount. Conventional typically costs less upfront but requires PMI under 20% down.
Yes with conventional at 20% down. FHA always requires mortgage insurance regardless of down payment size.