Question 1

Can I use USDA anywhere in Mariposa?

Accepted Answer

Most of Mariposa qualifies, but you need to verify the specific address on the USDA eligibility map. Some denser areas near services may fall outside approved zones.

Question 2

Which loan has lower mortgage insurance?

Accepted Answer

USDA charges 0.35% annually compared to FHA's 0.55-0.85%. On a $400K loan, that's roughly $1,400 per year vs $2,200-3,400 with FHA.

Question 3

Does USDA really require zero down payment?

Accepted Answer

Yes, USDA finances 100% of the purchase price. You still need to cover closing costs, though you can get seller credits or roll some costs into the loan.

Question 4

What are the income limits for USDA in Mariposa County?

Accepted Answer

For households of 1-4 people, the limit is around $103,500. Larger households get slightly higher caps, and limits adjust annually.

Question 5

Can I refinance out of mortgage insurance later?

Accepted Answer

With FHA, you're stuck with MI unless you put down 10%+ initially. USDA keeps its annual fee for the loan life regardless of equity.

FHA vs USDA Loans in Mariposa: Which Government Loan Fits Your Budget?

FHA vs USDA Loans in Mariposa: Which Government Loan Fits Your Budget?