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Calimesa sits in Riverside County, where the median household income of $89,672 supports homes in the mid-$700K range. The Stagecoach Festival and Coachella bring attention to the broader Coachella Valley region each spring.
At 5.875% interest, a $750,000 FHA loan carries a $4,437 monthly payment for principal and interest. That payment assumes 3.5% down and a 740 FICO score.
5.875%
Interest Rate
$4,437
Monthly P&I
580
Minimum FICO
3.5%
Down Payment Min
$690,000
2026 FHA Limit
FHA Loans in Calimesa
FHA requires a minimum 580 FICO score and accepts 3.5% down on a primary residence. The upfront mortgage insurance premium is 1.75% of the loan amount, rolled into your balance.
With Riverside County's median household income of $89,672, a buyer can typically support a $600,000 to $750,000 purchase. Debt-to-income limits run 43% to 50% depending on compensating factors.
Local decision guide
Use this guide to connect fha loans eligibility, lender expectations, and local market factors before comparing payment options in Calimesa.
Calimesa sits in Riverside County, where the median household income of $89,672 supports homes in the mid-$700K range. The Stagecoach Festival and Coachella bring attention to the broader Coachella Valley region each spring.
At 5.875% interest, a $750,000 FHA loan carries a $4,437 monthly payment for principal and interest. That payment assumes 3.5% down and a 740 FICO score.
FHA requires a minimum 580 FICO score and accepts 3.5% down on a primary residence. The upfront mortgage insurance premium is 1.75% of the loan amount, rolled into your balance.
FHA loans in California move through both retail banks and mortgage brokers. Brokers often close faster and offer more flexibility on credit and employment history than large lenders.
Most FHA loans in Riverside County close in 30 to 45 days. Appraisals and title work are the main timeline drivers, not underwriting.
FHA makes sense in Calimesa when you have limited savings and a solid credit score above 660. The 3.5% down opens doors that conventional lending at 5% or 10% down would close.
Above $690,000, FHA hits the county limit and you move to jumbo or conventional. Below that, FHA's lower down payment often beats the math of waiting to save 10%.
Conventional loans at this price typically require 5% to 10% down and a 620+ FICO. FHA cuts the down payment to 3.5% but carries lifetime mortgage insurance if you put down less than 10%.
The rate difference is small—conventional may run 0.25% to 0.5% higher. The real trade is down-payment size versus mortgage insurance cost over the loan's life.
Riverside County schools like Temecula Valley USD earned high honors recognition in 2026. School quality matters for long-term home values and family stability in the area.
Proximity to Coachella Valley events and the broader Inland Empire job market supports buyer confidence. Many Calimesa residents work in San Bernardino or Orange County, making the location a commute-friendly choice.
At 5.875% interest with 3.5% down, the principal and interest payment is $4,437 per month. Add property taxes, insurance, and mortgage insurance—total housing cost runs higher.
No. FHA accepts 580 FICO minimum, though 620+ gets better rates. A 740 score qualifies easily and opens access to slightly lower pricing.
If you put down less than 10%, mortgage insurance runs for the life of the loan. With 10% or more down, it cancels after 11 years of on-time payments.
Yes. The 2026 FHA limit here is $690,000. Above that, you'd use conventional or jumbo financing. Jumbo loans typically require 20% down and higher credit scores.
Most FHA loans close in 30 to 45 days. Appraisals and title work drive the timeline more than underwriting does.