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FHA Loans in Colma
What's the minimum credit score for FHA in Colma?
FHA requires 580 FICO minimum to qualify. Scores of 740 and above get the best rates and terms, like the 5.875% shown here.
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San Mateo's Bespoke mixed-use development at the former Talbot's site signals downtown investment and housing growth. At 5.875% interest, a $750,000 FHA purchase runs $4,437 monthly (principal and interest).
Colma sits in San Mateo County where the median household income of $156,000 supports homes in this range comfortably. FHA's 3.5% down requirement keeps closing costs lower than conventional financing.
5.875%
Interest Rate
$4,437
Monthly Payment (PI)
580
Minimum FICO
3.5%
Down Payment Minimum
$750,000
Loan Amount (Scenario)
17-21 days
Typical Close
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FHA requires a 580 FICO minimum, though 740 and above gets the best pricing. Down payments start at 3.5% of the purchase price, meaning $27,202 down on a $777,202 home.
Debt-to-income limits run up to 50% on FHA, so the county's $156,000 median income supports a loan around this size. Mortgage insurance (MIP) runs for the life of the loan when down payment is under 10%.
Local decision guide
Use this guide to connect fha loans eligibility, lender expectations, and local market factors before comparing payment options in Colma.
San Mateo's Bespoke mixed-use development at the former Talbot's site signals downtown investment and housing growth. At 5.875% interest, a $750,000 FHA purchase runs $4,437 monthly (principal and interest).
Colma sits in San Mateo County where the median household income of $156,000 supports homes in this range comfortably. FHA's 3.5% down requirement keeps closing costs lower than conventional financing.
FHA requires a 580 FICO minimum, though 740 and above gets the best pricing. Down payments start at 3.5% of the purchase price, meaning $27,202 down on a $777,202 home.
Rate check
Tell us the price range, down payment and credit range you are working with. We compare every lender we work with and show you the options side by side.
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FHA loans in California are offered by banks, credit unions, and mortgage brokers. Most lenders price FHA and conventional similarly, but FHA's lower credit floor and down-payment flexibility attract first-time buyers.
Underwriting timelines typically run 17-21 days for FHA. Appraisals must meet FHA property standards, which can delay closings in older neighborhoods but rarely derail deals.
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FHA pencils in Colma when you have limited savings but solid income. At $156,000 county median income, a buyer with 740 FICO and 3.5% down qualifies for $750,000 without stretching debt ratios.
Conventional makes more sense above $1,249,125 (the 2026 conforming limit) or if you can put 20% down and skip PMI entirely. Below that, FHA's lower down payment often beats conventional's PMI cost over five years.
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Conventional loans at this price require 5-10% down and carry PMI until you hit 78% LTV. FHA's 3.5% down costs less upfront, but MIP stays for the life of the loan if you put down under 10%.
The monthly payment difference is modest at this rate. FHA wins if you're short on cash; conventional wins if you plan to stay and can put 20% down to skip insurance entirely.
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San Mateo County school districts placed bond measures on the June ballot for funding boosts. Families buying in Colma benefit from these infrastructure investments in schools and district resources.
The Michelin guide's recognition of Bay Area dining signals the region's culinary growth. Colma's proximity to San Mateo and San Francisco means access to restaurants and cultural amenities that support long-term home values.
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FHA lending in California remains steady as a first-time buyer channel. The program's flexibility on credit and down payment keeps it popular despite higher insurance costs.
HUD's recent updates to FHA single-family rules (14 changes to origination, servicing, and quality control) streamline the process. These updates make underwriting faster and more consistent across lenders.
FAQ
FHA requires 580 FICO minimum to qualify. Scores of 740 and above get the best rates and terms, like the 5.875% shown here.
No — FHA's minimum is 3.5% down. On a $777,202 purchase, that's $27,202. Conventional requires 5-10% minimum and PMI until 78% LTV.
At 5.875% interest, principal and interest run $4,437 monthly. Add property taxes, insurance, and MIP for your full payment. MIP is roughly $250-300 monthly on this loan.
Yes, but only if you put 10% or more down. Below 10% down, MIP stays for the life of the loan. Refinancing is the only escape.
Yes — 740 FICO qualifies easily for FHA. You'll get the best rates at that score. The scenario shown here uses 740 FICO as the pricing baseline.
Programs for first-time buyers that allow lower down payments and more forgiving credit and income rules.
Explore refinancing options to lower your rate, tap equity, or switch loan terms.
SRK CAPITAL in San Mateo County
Our team of licensed mortgage brokers works San Mateo County every week. Tell us where you are in the process and we will map out the loan, the timeline and the money you need at closing, with no obligation.
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Licensed mortgage brokers
You talk with a broker, not a call center, from the first question to closing day.
17-21 day typical close
Most purchase loans close in 17-21 days once your paperwork is in.
Every county in California
We work across the state, including San Mateo County, so local limits and rules are already familiar.
Financing solutions for rental properties, fix-and-flip projects, and real estate portfolios.
Mortgage programs with alternative income documentation for business owners and freelancers.
Federally insured or guaranteed programs (FHA, VA, USDA) that let lenders accept lower credit scores and smaller down payments.
Traditional mortgage options meeting standard lending guidelines with various term structures.
Alternative lending programs for borrowers who need flexible documentation or unique loan structures.
Side-by-side comparisons to help you choose the right mortgage program.
This page is for educational purposes only and does not constitute financial, legal, or tax advice. Mortgage rates, terms, and program availability can change and vary by borrower and property. Consult a licensed mortgage professional for guidance on your scenario.