Question 1

Is Campbell eligible for USDA loans?

Accepted Answer

Most of Campbell does not meet USDA's rural zone requirements. Check the USDA property eligibility map for your specific address.

Question 2

Which loan has lower mortgage insurance costs?

Accepted Answer

USDA's annual guarantee fee is generally lower than FHA's mortgage insurance premium. FHA MIP often stays for the loan's life.

Question 3

What credit score do I need for FHA?

Accepted Answer

You need at least a 580 to put 3.5% down. Scores between 500 and 579 require 10% down.

Question 4

Does USDA have income limits in Santa Clara County?

Accepted Answer

Yes. USDA caps household income at 115% of the area median. Santa Clara County limits run higher than most counties statewide.

Question 5

Can I use FHA on a multi-unit property in Campbell?

Accepted Answer

Yes. FHA covers 1-to-4-unit properties as long as you occupy one unit as your primary residence.

Question 6

Which loan closes faster — FHA or USDA?

Accepted Answer

FHA typically closes faster. USDA loans require an extra approval layer that can add weeks to the timeline.

FHA vs USDA Loans in Campbell, CA