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FHA Loans in Tiburon
Tiburon sits in one of California's priciest counties. FHA loans hit county limits fast here.
Most Tiburon properties exceed FHA's $1,149,825 Marin ceiling. Condos and smaller homes offer the best shot.
This loan works for first-time buyers targeting Tiburon's more affordable inventory. Expect competition from cash and conventional buyers.
FHA's 3.5% down payment looks attractive until you factor in Marin's price floor. Even condos often push borrowing capacity.
You need 580 credit for 3.5% down. Drop to 500 and lenders want 10% down.
FHA allows 43% debt-to-income, sometimes higher with strong compensating factors. Two years of steady employment helps.
Mortgage insurance runs for the loan's life on 3.5% down deals. That's an extra cost conventional loans don't always carry.
Recent bankruptcy or foreclosure? FHA timelines beat conventional. You can qualify 2-3 years out with clean credit since.
Not every lender prices FHA competitively in Marin. Some avoid them entirely in high-cost markets.
We compare rates across 200+ wholesale lenders. The spread between best and worst pricing hits 0.375% regularly.
Condo approval matters here. Your lender needs the building on FHA's approved list or you're dead in the water.
Some lenders overlay stricter rules than FHA requires. A broker finds you lenders using actual government minimums.
I've closed maybe five FHA deals in Tiburon over three years. It's rare because prices don't cooperate.
When they work, it's usually a condo under $1 million with a seller willing to cover closing costs. That seller credit helps stretch down payment funds.
Watch appraisal issues. FHA requires repairs conventional lenders ignore. Peeling paint or handrail problems kill deals.
If you're stretching to afford Tiburon with FHA, ask yourself if neighboring communities make more financial sense. Mill Valley and San Rafael offer better FHA inventory.
Conventional loans require higher credit and more down payment. But you drop mortgage insurance at 20% equity.
VA loans beat FHA on every metric if you're a veteran. No down payment, no mortgage insurance, higher Marin limit at $1,149,825.
Conforming conventional and FHA share the same county limit here. The difference comes down to mortgage insurance costs versus credit requirements.
If you're putting down 10% or more, conventional almost always costs less monthly than FHA once you factor lifetime mortgage insurance.
Tiburon has limited condo inventory and most buildings skew luxury. Finding an FHA-approved building under the loan limit takes work.
Marin's competitive market means sellers often see multiple offers. FHA financing looks weaker than conventional or cash.
Your agent matters enormously here. They need to position your offer to overcome FHA's perceived drawbacks with sellers.
Property taxes in Tiburon run higher than most Bay Area cities. Calculate your full PITI payment before assuming you can afford the mortgage amount.
$1,149,825 for single-family homes in Marin County. This limit applies countywide, not just Tiburon specifically.
Yes, if the building is FHA-approved. Most luxury Tiburon condos aren't on the approved list, limiting your options significantly.
1.75% upfront plus 0.55-0.85% annually depending on loan amount and down payment. On a $1M loan, expect $650-800 monthly.
Some do, but you're competing against stronger financing. Offer strength, not just price, determines acceptance in this market.
Probably not in Tiburon. Conventional loans eliminate mortgage insurance faster and cost less long-term at that down payment level.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.