Question 1

What credit score do I need for a community mortgage in El Cajon?

Accepted Answer

Requirements vary by program and lender. Many community programs accept scores below 640 with compensating factors like stable employment.

Question 2

Can I use gift funds for a down payment?

Accepted Answer

Most community mortgage programs allow gift funds. Some require no borrower contribution at all.

Question 3

Do community mortgages have income limits?

Accepted Answer

Some programs cap income at area median limits. Others have no ceiling — eligibility depends on the specific program.

Question 4

How is this different from an FHA loan?

Accepted Answer

Community programs can offer lower mortgage insurance costs and more flexible income guidelines. FHA has set rules; community programs vary by lender.

Question 5

Does El Cajon qualify for any community mortgage programs?

Accepted Answer

Yes. El Cajon is within San Diego County and qualifies for several state and lender-specific community programs.

Community Mortgages in El Cajon, CA