Question 1

Does Gustine qualify for USDA loans?

Accepted Answer

Gustine has historically been USDA-eligible, but maps update periodically. Verify the property address on the USDA eligibility site before making an offer.

Question 2

What are the USDA income limits in Merced County?

Accepted Answer

USDA limits vary by household size and are set annually. Check current Merced County limits at the USDA income eligibility portal.

Question 3

Can I use FHA if I also qualify for USDA?

Accepted Answer

Yes, but USDA usually costs less. Run both scenarios with us. The right choice depends on your credit, income, and timeline.

Question 4

Which loan has lower mortgage insurance?

Accepted Answer

USDA mortgage insurance is typically cheaper than FHA. USDA charges 0.35% annually versus FHA's 0.55% or more.

Question 5

Do both loans require the home to be a primary residence?

Accepted Answer

Yes. Neither FHA nor USDA allows investment properties or second homes. You must live in the home as your primary residence.

Question 6

Which loan is easier to qualify for credit-wise?

Accepted Answer

FHA accepts scores as low as 500 with 10% down. Most USDA lenders want a 640 or higher. FHA has the edge for lower credit scores.

FHA vs USDA Loans in Gustine, CA