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in Quincy, CA
Quincy sits in the heart of Plumas County, where the median household income is $64,946. Both FHA and USDA loans serve rural buyers here, but they work very differently.
FHA requires a down payment and mortgage insurance. USDA offers zero down for eligible properties and households. The 2026 FHA loan limit in this county is $541,287.
USDA has no loan-amount cap, making it powerful for rural buyers. Your choice hinges on income eligibility, property location, and available savings.
FHA at 5.875% interest works when you have modest savings. The program requires 3.5% down minimum with a 580+ FICO score.
Mortgage insurance (MIP) runs for the life of the loan if your down payment is under 10%. The upfront MIP is 1.75% of the loan amount, rolled into your mortgage.
USDA loans offer zero down for properties in USDA-eligible rural areas. You must meet income limits set per household size.
The program has no loan-amount ceiling, so you can borrow more than FHA allows. USDA charges a 1% upfront fee and 0.35% annual fee on the loan balance.
Local decision guide
Use this comparison to weigh FHA Loans and USDA Loans through local payment fit, eligibility, documentation, and timing before choosing a path in Quincy.
Quincy sits in the heart of Plumas County, where the median household income is $64,946. Both FHA and USDA loans serve rural buyers here, but they work very differently.
FHA requires a down payment and mortgage insurance. USDA offers zero down for eligible properties and households. The 2026 FHA loan limit in this county is $541,287.
USDA has no loan-amount cap, making it powerful for rural buyers. Your choice hinges on income eligibility, property location, and available savings.
FHA lets you in with a 580 FICO and 3.5% down. USDA requires zero down but gates you on income.
If your household earns above the USDA threshold for your family size, FHA is your only path. If you qualify for USDA, zero down saves the entire down-payment amount.
FHA's mortgage insurance runs forever on loans under 10% down. USDA's annual fee is smaller but lasts the loan's life too.
Pick FHA if your household income exceeds USDA's cap for your family size. You have some savings and your credit is 580 or better.
Choose USDA if your household income qualifies and the property sits in a USDA-eligible rural area. Zero down means you keep cash for closing costs and reserves.
At 5.875% on a $750,000 loan, principal and interest is $4,437. That's priced June 13, 2026, with 740 FICO and 96.5% LTV. Your actual payment includes taxes, insurance, and MIP.
No. FHA requires only 3.5% down minimum. Mortgage insurance applies on all loans under 10% down and lasts the life of the loan. At 10% or more down, MIP cancels after 11 years.
USDA caps household income at the area-specific threshold for this county, scaled by family size. If you exceed that cap, USDA won't approve you. FHA has no income limit.
USDA has no loan-amount ceiling. FHA caps at $541,287 in 2026. If you need to borrow above that limit and qualify for USDA, USDA opens the door to a larger loan.
No. USDA skips mortgage insurance entirely. Instead, you pay a 1% upfront fee and 0.35% annual fee on the loan balance. Both fees apply for the loan's full term.