Question 1

What is the FHA loan limit in Orange County?

Accepted Answer

FHA sets county-level limits that cap your maximum loan amount. Check HUD's site for the current Orange County figure before shopping Newport Beach listings.

Question 2

Can I use FHA to buy a condo in Newport Beach?

Accepted Answer

Yes, but only in FHA-approved complexes. Many Newport Beach buildings aren't on HUD's approved list, so confirm before making an offer.

Question 3

Does FHA mortgage insurance ever go away?

Accepted Answer

Not on most FHA loans originated after 2013. You'd need to refinance into a conventional loan to eliminate it once you build enough equity.

Question 4

Is FHA realistic for Newport Beach home prices?

Accepted Answer

It's tight. Most detached single-family homes here exceed FHA limits. Condos and lower-priced properties are a better fit for FHA financing.

Question 5

How much down payment does FHA require?

Accepted Answer

3.5% down with a 580+ credit score. Below 580 requires 10% down. Down payment gifts from family are allowed.

Question 6

Will sellers in Newport Beach accept FHA offers?

Accepted Answer

Some won't. FHA appraisals can flag property condition issues, which scares sellers. A strong pre-approval and clean offer terms help.

FHA Loans in Newport Beach: What You Need to Know