Question 1

Can I use FHA to buy a ski condo in Mammoth Lakes?

Accepted Answer

Only if it's your primary residence and the complex is FHA-approved. Many Mammoth condo complexes aren't on the FHA approved list.

Question 2

What's the FHA loan limit in Mono County?

Accepted Answer

Mono County qualifies as a high-cost area. Limits exceed the national baseline — ask us for the current figures before you shop.

Question 3

Does seasonal income qualify for FHA in Mammoth?

Accepted Answer

Yes. FHA allows lenders to average two years of income. That helps workers with strong summer or winter seasons but uneven monthly pay.

Question 4

How much is FHA mortgage insurance?

Accepted Answer

FHA charges an upfront MIP of 1.75% plus an annual premium. The annual rate depends on your loan amount and down payment.

Question 5

Can I use FHA on a short-term rental property?

Accepted Answer

No. FHA requires the home to be your primary residence. Properties used primarily as vacation rentals don't qualify.

FHA Loans in Mammoth Lakes, CA