Question 1

What is the FHA loan limit in Santa Clara County?

Accepted Answer

FHA limits in Santa Clara County are among the highest in California. Check current HUD tables — limits adjust each year.

Question 2

Can I use FHA to buy a home in Morgan Hill with bad credit?

Accepted Answer

You can qualify with a 500 credit score, but you'll need 10% down. At 580+, you drop to 3.5% down.

Question 3

Does FHA allow gifts for the down payment?

Accepted Answer

Yes. FHA allows the full down payment to come from a gift. The donor must provide a gift letter — no repayment allowed.

Question 4

What is FHA mortgage insurance and how long does it last?

Accepted Answer

FHA charges an upfront MIP and a monthly premium. With under 10% down, monthly MIP lasts the life of the loan.

Question 5

Will an FHA loan work on a Morgan Hill fixer-upper?

Accepted Answer

Standard FHA requires the home to be move-in ready. An FHA 203k loan covers purchase and renovation in one loan.

Question 6

How does SRK CAPITAL find me the best FHA rate?

Accepted Answer

We run your file across 200+ wholesale lenders. Rates vary by borrower profile and market conditions — we find who's sharpest right now.

FHA Loans in Morgan Hill, CA — Low Down, Real Access