Question 1

Does Greenfield qualify for USDA loans?

Accepted Answer

Parts of Greenfield may qualify. You need to check the official USDA eligibility map — eligibility is determined by address, not city name alone.

Question 2

What are the USDA income limits for Monterey County?

Accepted Answer

USDA sets limits by household size and county. Check the USDA income eligibility tool for current Monterey County figures — limits change periodically.

Question 3

Which loan has lower mortgage insurance?

Accepted Answer

USDA mortgage insurance runs lower than FHA over the life of the loan. That difference adds up significantly over a 30-year term.

Question 4

Can I use either loan for a fixer-upper?

Accepted Answer

FHA has a rehab option called the 203k. USDA does not allow homes needing major repairs — the property must meet USDA condition standards at closing.

Question 5

What credit score do I need for each loan?

Accepted Answer

Most lenders want 580+ for FHA and 640+ for USDA. Some USDA lenders require 640 as a hard floor. Rates vary by borrower profile and market conditions.

Question 6

Can I earn too much for USDA but still use FHA?

Accepted Answer

Yes. FHA has no income ceiling. If you exceed USDA limits, FHA is likely your best government-backed option.

FHA vs USDA Loans in Greenfield, CA