Question 1

What is the FHA loan limit in Orange County?

Accepted Answer

Orange County has a high-cost FHA limit set annually by HUD. Confirm the current limit with SRK CAPITAL before making an offer.

Question 2

Can I use FHA to buy a condo in Laguna Hills?

Accepted Answer

Yes, but the condo complex must be on FHA's approved list. Many Laguna Hills complexes qualify — some do not.

Question 3

How long does FHA mortgage insurance last?

Accepted Answer

On loans with less than 10% down, MIP stays for the life of the loan. Putting 10% or more down drops it after 11 years.

Question 4

Is FHA better than conventional for first-time buyers here?

Accepted Answer

Depends on your credit score. Below 680, FHA usually gets you a better rate. Above that, run both scenarios.

Question 5

What property types qualify for FHA in Laguna Hills?

Accepted Answer

Single-family homes, approved condos, and 2-4 unit properties qualify. The home must be your primary residence.

Question 6

Can sellers pay closing costs on an FHA loan?

Accepted Answer

Yes. Sellers can contribute up to 6% of the purchase price toward your closing costs. Negotiate this into your offer.

FHA Loans in Laguna Hills, CA