Question 1

What credit score do I need for an FHA loan in Yucca Valley?

Accepted Answer

You need a minimum 580 credit score for 3.5% down. Scores between 500-579 require 10% down. Rates vary by borrower profile and market conditions.

Question 2

Can I use an FHA loan for a manufactured home in Yucca Valley?

Accepted Answer

Yes, FHA loans can finance manufactured homes if they meet specific requirements. The home must be on a permanent foundation and built after June 1976.

Question 3

How much are FHA closing costs in San Bernardino County?

Accepted Answer

Closing costs typically range from 2-5% of the loan amount. The seller can contribute up to 6% toward your closing costs with FHA financing.

Question 4

Do FHA loans work for investment properties in Yucca Valley?

Accepted Answer

No, FHA loans require you to occupy the property as your primary residence. You must move in within 60 days and live there at least one year.

Question 5

What is FHA mortgage insurance and how much does it cost?

Accepted Answer

FHA requires upfront mortgage insurance of 1.75% and annual premiums from 0.45-1.05%. The annual rate depends on loan amount, term, and down payment size.

FHA Loans in Yucca Valley: Low Down Payment Home Financing for San Bernardino County Buyers