Question 1

What is the FHA loan limit in Santa Barbara County?

Accepted Answer

FHA loan limits adjust each year and vary by county. Check current limits before making an offer — your broker can confirm the exact figure for Santa Barbara County.

Question 2

Can I use gift money for my FHA down payment in Guadalupe?

Accepted Answer

Yes. FHA allows the full down payment to come from a gift. The donor needs to sign a gift letter confirming no repayment is expected.

Question 3

Does FHA mortgage insurance ever go away?

Accepted Answer

Not if you put less than 10% down — it stays for the life of the loan. Put 10% or more down and it drops after 11 years.

Question 4

Can seasonal farm workers qualify for FHA in Guadalupe?

Accepted Answer

Yes, seasonal income counts if it's documented and consistent over two years. Tax returns and employer verification are the key paperwork.

Question 5

How does FHA compare to USDA loans near Guadalupe?

Accepted Answer

USDA requires zero down but has income limits and rural zone eligibility. FHA has no geographic restriction and works at slightly higher income levels.

Question 6

What credit score do I need for a 3.5% down FHA loan?

Accepted Answer

You need at least a 580 credit score. Some lenders add overlays requiring 620 or higher — shopping lenders matters here.

FHA Loans in Guadalupe, CA — Low Down, Real Path to Ownership