Question 1

Can I use an FHA loan to buy in Encinitas?

Accepted Answer

Yes, FHA loans are available in San Diego County. Check current FHA loan limits to confirm your target price fits.

Question 2

Does FHA mortgage insurance ever go away?

Accepted Answer

Not on most FHA loans made after 2013. You'd need to refinance into a conventional loan to drop MIP.

Question 3

What credit score do I need for a conventional loan?

Accepted Answer

Most conventional lenders want at least 620. Better rates kick in at 740 and above.

Question 4

Which loan has lower rates right now?

Accepted Answer

FHA rates often run slightly lower. Rates vary by borrower profile and market conditions — get a real quote.

Question 5

Can I put 3% down on a conventional loan?

Accepted Answer

Yes, some conventional programs allow 3% down. You'll pay PMI, but it cancels once you hit 20% equity.

Question 6

Which loan is better for a first-time buyer in Encinitas?

Accepted Answer

It depends on your credit and savings. We run both scenarios to show you actual costs before you decide.

Conventional vs FHA Loans in Encinitas