Question 1

What is the FHA loan limit in Riverside County?

Accepted Answer

Riverside County falls under standard FHA conforming limits. Check with SRK CAPITAL for the current ceiling — limits adjust annually.

Question 2

Can I use FHA to buy in Moreno Valley with a 600 credit score?

Accepted Answer

Yes. At 600, you qualify for 3.5% down. You'll want clean payment history for the past 12 months to strengthen your file.

Question 3

How long does FHA mortgage insurance last?

Accepted Answer

Put down less than 10% and MIP stays for the loan's full term. Put down 10% or more and it drops at year 11.

Question 4

Does FHA allow gift funds for the down payment?

Accepted Answer

Yes. The full 3.5% down can come from a family member's gift. The donor must sign a gift letter — no repayment allowed.

Question 5

Is FHA a good fit for Moreno Valley investment properties?

Accepted Answer

No. FHA requires owner-occupancy. You must live in the home as your primary residence. Look at conventional or DSCR loans for rentals.

Question 6

How does FHA compare to conventional for a Moreno Valley first-time buyer?

Accepted Answer

Below 700 credit with under 5% down, FHA usually wins on rate and approval odds. Above 700 with more down, run both scenarios.

FHA Loans in Moreno Valley, CA