Question 1

What is the FHA loan limit in San Bernardino County?

Accepted Answer

Loan limits are set annually by HUD and vary by county. Confirm the current San Bernardino County limit before shopping for homes.

Question 2

Can I use FHA to buy a duplex in Montclair?

Accepted Answer

Yes. FHA allows 2-4 unit properties if you live in one unit. It's a solid strategy to offset your mortgage with rental income.

Question 3

How long does FHA mortgage insurance last?

Accepted Answer

With less than 10% down, MIP lasts the full loan term. Put 10% or more down and it drops off after 11 years.

Question 4

Does FHA work for self-employed buyers in Montclair?

Accepted Answer

Yes, but FHA requires 2 years of self-employment history. Lenders will average your net income from two years of tax returns.

Question 5

Can the seller pay my closing costs on an FHA loan?

Accepted Answer

Sellers can contribute up to 6% of the purchase price toward your closing costs. Negotiate that into your offer from the start.

Question 6

Is FHA or conventional better for first-time buyers in Montclair?

Accepted Answer

If your score is below 680, FHA usually wins on rate and flexibility. Above 720 with 10%+ down, conventional often costs less long-term.

FHA Loans in Montclair, CA — Low Down, Real Approval