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in Fort Jones, CA
Fort Jones sits in a USDA-eligible zone, meaning rural buyers here can choose between 3.5% down with FHA or zero down with USDA. Both programs offer lower credit barriers than conventional loans, but the right pick depends on your income and property type.
Most Siskiyou County buyers lean USDA when they qualify income-wise. FHA wins when you earn above USDA limits or need faster closing timelines.
FHA loans let you buy with 3.5% down and a 580 credit score. You'll pay upfront mortgage insurance (1.75% of loan amount) plus annual premiums of 0.55% for most loans, which stick around for the loan's life on 30-year terms with less than 10% down.
These loans work for any property type in Fort Jones—single-family homes, manufactured homes on permanent foundations, or small multi-family buildings. No income caps mean higher earners can still use the program.
USDA loans require zero down payment in Fort Jones. You'll pay a 1% upfront guarantee fee and 0.35% annual fee—lower ongoing costs than FHA. Credit scores down to 640 typically get approved, though some lenders go to 620.
The catch: household income can't exceed 115% of area median for Siskiyou County. For a family of four, that caps around $103,000 annually. Property must be owner-occupied and meet USDA standards—no income-producing farms or luxury features.
Down payment separates these loans first. USDA's zero down beats FHA's 3.5%, but USDA income caps disqualify higher earners. A Fort Jones household earning over county limits must use FHA or conventional financing.
Ongoing costs tilt USDA. Annual mortgage insurance runs 0.35% versus FHA's 0.55%—on a $300,000 loan, that's $1,050 yearly versus $1,650. FHA closes faster since it skips USDA's rural eligibility review, shaving two weeks off typical timelines.
Pick USDA if your household income falls under county limits and you want to preserve cash. Zero down plus lower insurance makes monthly payments cheaper. Just confirm your target property meets USDA's modest standards—no acreage subdivisions or commercial features.
Choose FHA when you earn above USDA thresholds or need faster closing. It works for any home type in Fort Jones, including fixer-uppers that might not pass USDA's stricter property reviews. Borrowers with credit scores between 580-639 also default to FHA since most USDA lenders want 640+.
Yes, all of Fort Jones qualifies as USDA-eligible rural territory. The property must be owner-occupied and meet modest home standards—no commercial use or income-producing farms.
Household income can't exceed 115% of area median income. For most Fort Jones families, that ceiling runs around $103,000 annually depending on household size.
On 30-year loans with less than 10% down, FHA mortgage insurance lasts the full loan term. You'd need to refinance into conventional financing to remove it.
USDA reviews properties more strictly, requiring modest features and rejecting luxury upgrades. FHA accepts wider property conditions including homes needing minor repairs.
FHA covers manufactured homes on permanent foundations. USDA typically requires site-built homes, though some newer manufactured homes may qualify case-by-case.