Loading
FHA Loans in Dixon
Dixon sits between Sacramento and the Bay Area, making FHA loans popular for first-time buyers priced out of pricier markets. The 3.5% down payment requirement opens doors for families who can afford monthly payments but lack savings.
Most Dixon buyers using FHA finance single-family homes and newer townhomes near downtown. Agricultural worker families and young professionals relocating from Vacaville or Fairfield use this program frequently.
FHA loan limits in Solano County match standard conforming limits, sufficient for most Dixon properties. Borrowers shopping in this city rarely hit ceiling issues that plague Bay Area counties.
You need a 580 credit score for 3.5% down, or 500-579 with 10% down. Most lenders stick to the 580 threshold regardless of down payment size.
Debt-to-income ratios can stretch to 50% with strong compensating factors like cash reserves or employment stability. Two years of consistent work history matters more than job title.
FHA allows gift funds for the entire down payment and closing costs. Sellers can contribute up to 6% toward your costs, double what conventional loans permit.
FHA loans require lenders approved by HUD, but nearly every wholesale lender we access offers this program. Rate differences between lenders can reach 0.375% on identical borrower profiles.
Overlay policies vary significantly. Some lenders approve 580 credit scores freely while others require 600+ or impose stricter income documentation for self-employed borrowers.
Shopping across our 200+ lender network typically saves Dixon borrowers $50-150 monthly compared to single-lender options. This matters when every dollar affects approval.
FHA works best for Dixon buyers with steady W-2 income and limited savings, not necessarily damaged credit. I see 680-720 score buyers choose FHA purely for the low down payment.
Mortgage insurance costs more than conventional PMI and never drops off without refinancing. Run the math—if you have 5% down and 700+ credit, conventional often beats FHA long-term.
Property condition matters heavily. FHA appraisers flag peeling paint, broken railings, and roof issues that conventional appraisers might ignore. Inspect before you write an offer on fixer-uppers.
The 6% seller concession limit gives you negotiating room conventional buyers lack. Use it to cover closing costs and keep your cash for reserves.
VA loans beat FHA for eligible veterans—zero down, no mortgage insurance, better rates. If you served, use that benefit instead.
Conventional loans require higher credit but cost less monthly when you hit 20% equity. FHA suits buyers prioritizing entry over long-term cost.
USDA loans offer zero down for Dixon properties outside city limits, but income caps and longer processing knock out many applicants. FHA has no income limits.
Dixon homes built before 1978 trigger FHA lead paint inspections and disclosures. Much of the older housing stock near downtown falls in this category.
Well water and septic systems common in rural Dixon require FHA-compliant inspections beyond standard appraisals. Budget extra time and $400-600 for these tests.
Condos must appear on FHA's approved list. Dixon has limited condo inventory, and HOA certification lapses frequently. Verify approval before making offers.
Proximity to I-80 makes Dixon accessible for Bay Area commuters, driving competition. FHA's seller concession advantage helps in multiple-offer situations when cash is tight.
3.5% down with a 580 credit score, or 10% down if your score is 500-579. Gift funds can cover the entire amount.
Not necessarily—rates often match or beat conventional for borrowers with credit under 680. Mortgage insurance costs more though.
Only if it meets HUD minimum property standards at closing. Peeling paint, roof damage, and safety hazards must be repaired first.
Standard purchases close in 25-35 days. Rural properties with well/septic add 7-10 days for required inspections.
Yes, up to 6% of the purchase price. This is double the 3% conventional limit and helps preserve your cash.
Not automatically. You must refinance to conventional once you reach 20% equity to eliminate monthly MI.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.