Question 1

What is the FHA loan limit in Riverside County?

Accepted Answer

Riverside County FHA loan limits are set annually by HUD. Check current limits before assuming what you can borrow — they change year to year.

Question 2

Can I use gift funds for my FHA down payment in Lake Elsinore?

Accepted Answer

Yes. FHA allows 100% of your down payment to come from a gift. The donor must provide a signed gift letter — no repayment allowed.

Question 3

How long does FHA mortgage insurance last?

Accepted Answer

If you put less than 10% down, MIP lasts the life of the loan. Refinancing into conventional later is the main way to remove it.

Question 4

Are there FHA-approved condos in Lake Elsinore?

Accepted Answer

Some condo communities qualify, but not all. We verify FHA project approval status before you make an offer — this is a common deal-killer.

Question 5

Can I combine FHA with California down payment assistance?

Accepted Answer

Yes. CalHFA programs layer on top of FHA loans. Income and purchase price limits apply, so we check eligibility early in the process.

Question 6

What credit score do I need for FHA in Lake Elsinore?

Accepted Answer

FHA's floor is 500. At 580 you qualify for 3.5% down. Many lenders we work with go down to 580 without heavy overlays.

FHA Loans in Lake Elsinore, CA