Question 1

What's the minimum credit score for FHA in Stanton?

Accepted Answer

580 gets you 3.5% down. Between 500 and 579, you'll need 10% down.

Question 2

Can I use FHA to buy a condo in Stanton?

Accepted Answer

Yes, but the condo complex must be on HUD's approved list. Check before you make an offer.

Question 3

How long does FHA mortgage insurance last?

Accepted Answer

With less than 10% down, MIP stays for the life of the loan. Put 10% or more down, and it drops after 11 years.

Question 4

What are the FHA loan limits for Orange County?

Accepted Answer

Limits are set annually by HUD and are higher in OC than most California counties. Confirm the current limit before shopping.

Question 5

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

Accepted Answer

Yes. FHA allows sellers to cover up to 6% of the purchase price in closing costs. Negotiate that into your offer.

Question 6

Is FHA better than conventional for a first-time buyer in Stanton?

Accepted Answer

It depends on your credit score and down payment. Below 680 credit, FHA usually offers better terms than conventional.

FHA Loans in Stanton, CA — Low Down, Real Approval