Question 1

What is the FHA loan limit in Orange County?

Accepted Answer

Orange County qualifies for high-cost FHA limits. Check HUD's current limit table before you set your purchase price.

Question 2

Can I use an FHA loan for a condo in San Juan Capistrano?

Accepted Answer

Only if the condo complex has FHA approval. Search HUD's condo approval database before you make an offer.

Question 3

Does FHA mortgage insurance ever go away?

Accepted Answer

Not if you put less than 10% down — it stays for the loan's life. Put 10% or more down, and it drops after 11 years.

Question 4

Can a seller pay my closing costs on an FHA loan?

Accepted Answer

Yes. FHA allows seller concessions up to 6% of the purchase price. This is a real negotiating tool in slower markets.

Question 5

What credit score do I need for an FHA loan?

Accepted Answer

580 gets you the 3.5% down option. Below that, you need 10% down. Most lenders want to see a clean 12-month payment history.

Question 6

How does FHA compare to conventional in Orange County?

Accepted Answer

FHA wins on credit flexibility. Conventional wins on long-term cost if your score is above 700 and you can put more down.

FHA Loans in San Juan Capistrano, CA