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in Weed, CA
Weed sits in rural Siskiyou County where both FHA and USDA loans work well. Most buyers here qualify for one or both programs.
FHA requires 3.5% down but accepts credit scores as low as 580. USDA offers zero down payment but caps income and only covers eligible rural zones.
Your choice comes down to cash savings versus income limits. Both programs charge upfront and monthly fees that affect your payment.
FHA loans let you buy with 3.5% down if your credit score hits 580. Scores between 500-579 require 10% down.
You pay 1.75% upfront mortgage insurance plus 0.55%-0.85% annually. These fees stay for the loan's life on most purchases.
FHA works anywhere in Weed regardless of property location or your income. Debt-to-income can stretch to 50% with strong credit.
USDA loans require zero down payment for properties in eligible rural areas. Most of Weed qualifies under USDA maps.
You pay 1% upfront guarantee fee plus 0.35% annually. These fees cost less than FHA and the annual fee drops off at 78% equity.
Income cannot exceed 115% of area median for Siskiyou County. Credit score minimums vary by lender but typically start at 640.
USDA saves cash upfront but restricts income and location. FHA works everywhere with any income but needs 3.5% down plus closing costs.
USDA monthly insurance costs 0.35% versus 0.55%-0.85% for FHA. On a $300,000 loan that's $88 monthly for USDA versus $138-$213 for FHA.
FHA accepts credit scores as low as 580 while most USDA lenders want 640 minimum. FHA processes faster because fewer eligibility checks.
Choose USDA if you have little cash saved and your income stays under county limits. You'll pay less monthly and skip the down payment entirely.
Pick FHA if your income exceeds USDA caps or you're buying outside eligible zones. Also choose FHA if your credit sits between 580-640.
Most Weed buyers try USDA first because zero down beats 3.5% down. If you don't qualify, FHA remains a solid backup option.
Most Weed properties qualify under USDA rural designation. Check the USDA eligibility map or ask us to verify the specific address before committing.
Income cannot exceed 115% of area median for your household size. These limits update annually and vary based on how many people live in the home.
Yes, FHA has no income caps. You only need 3.5% down and 580 credit score to qualify regardless of how much you earn.
USDA costs less monthly due to 0.35% annual fee versus FHA's 0.55%-0.85%. Zero down payment also means smaller loan balance and lower payment.
FHA insurance stays for the loan term on most purchases. USDA drops annual fees at 78% equity or after 11 years, whichever comes first.
FHA typically closes quicker because no income or property eligibility verification needed. USDA adds 1-2 weeks for rural designation and income checks.