Question 1

What is the FHA loan limit for Sacramento County?

Accepted Answer

Loan limits are set annually by HUD and vary by county. Check current Sacramento County limits before assuming a purchase price is FHA-eligible.

Question 2

Can I use FHA to buy a duplex in Rancho Cordova?

Accepted Answer

Yes. FHA allows 2-4 unit properties if you occupy one unit. Higher loan limits apply for multi-unit purchases.

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

Can I use gift funds for my FHA down payment?

Accepted Answer

Yes — FHA allows the full down payment to come from a documented gift. The donor must sign a gift letter and no repayment can be required.

Question 5

What credit score do I need for an FHA loan?

Accepted Answer

580 gets you the 3.5% down option. Scores between 500 and 579 require 10% down. Below 500, FHA isn't available.

Question 6

Does FHA work for condos in Rancho Cordova?

Accepted Answer

Only FHA-approved condo projects qualify. Check HUD's approved condo list before making an offer — many complexes are not on it.

FHA Loans in Rancho Cordova, CA