Question 1

What credit score do I need for FHA in San Bruno?

Accepted Answer

You need 580 for 3.5% down or 500-579 for 10% down. Most lenders in our network approve 580+ borrowers without extra overlays.

Question 2

How much is FHA mortgage insurance in San Mateo County?

Accepted Answer

You pay 1.75% upfront plus 0.55%-0.85% annually based on down payment and loan term. On a $700,000 loan, expect $400+ monthly in mortgage insurance.

Question 3

Can I use FHA for a San Bruno condo?

Accepted Answer

Yes, but the condo building must appear on FHA's approved list. Check approval status before making an offer to avoid wasted time.

Question 4

Does FHA work after bankruptcy or foreclosure?

Accepted Answer

FHA allows financing two years after bankruptcy discharge or three years after foreclosure. Some lenders in our network approve sooner with strong compensating factors.

Question 5

Should I choose FHA or conventional for San Bruno?

Accepted Answer

FHA wins with credit under 680 or down payment under 5%. Conventional costs less long-term with 680+ credit and 5%+ down due to lower mortgage insurance.

FHA Loans in San Bruno: Low Down Payment Access to San Mateo County