Question 1

What is the FHA loan limit in Santa Barbara County?

Accepted Answer

HUD sets higher limits for high-cost counties like Santa Barbara. Check current limits at HUD.gov — they update annually each January.

Question 2

Can I use an FHA loan on a condo in Carpinteria?

Accepted Answer

Only FHA-approved condo projects qualify. Many smaller HOAs in California are not on the approved list, so check before you fall in love with a unit.

Question 3

Does FHA require a home inspection in Carpinteria?

Accepted Answer

FHA requires an appraisal, not a full inspection. But always get an independent inspection — FHA appraisals miss plenty.

Question 4

How long does FHA mortgage insurance last?

Accepted Answer

On a 30-year loan with less than 10% down, FHA MIP stays for the life of the loan. Refinancing to conventional later is the main exit strategy.

Question 5

Can I use gift funds for my FHA down payment?

Accepted Answer

Yes. FHA allows 100% of your down payment to come from a gift. The donor needs to sign a gift letter and the funds must be sourced properly.

Question 6

Is FHA a good fit for Carpinteria's home prices?

Accepted Answer

It depends on the price point. Santa Barbara County's high-cost limits help, but if the purchase price exceeds the FHA ceiling, you'll need a different program.

FHA Loans in Carpinteria, CA