Question 1

What credit score do I need for FHA in Alturas?

Accepted Answer

580 gets you 3.5% down. Scores from 500-579 require 10% down. Most buyers I close in Modoc County have 600-660 scores.

Question 2

How long does FHA approval take in rural California?

Accepted Answer

Underwriting runs 7-10 days. Appraisals take 3-4 weeks due to limited appraiser availability in Modoc County.

Question 3

Can I use FHA for a fixer-upper in Alturas?

Accepted Answer

Only if it meets health and safety standards at closing. FHA 203k rehab loans work for properties needing repairs after purchase.

Question 4

Do sellers in Alturas accept FHA offers?

Accepted Answer

Yes, especially when you show strong pre-approval and address appraisal timeline concerns upfront. Cash isn't common here.

Question 5

What's the FHA loan limit in Modoc County?

Accepted Answer

Standard California floor limits apply. These limits cover most Alturas properties given local price points.

Question 6

Can I remove FHA mortgage insurance later?

Accepted Answer

Only by refinancing to conventional once you hit 20% equity. FHA insurance stays for the loan life on most mortgages.

FHA Loans in Alturas: Flexible Credit, Low Down Payments for Rural California Buyers