Question 1

What's the minimum down payment for FHA loans in Dixon?

Accepted Answer

3.5% down with a 580 credit score, or 10% down if your score is 500-579. Gift funds can cover the entire amount.

Question 2

Do FHA loans have higher rates than conventional?

Accepted Answer

Not necessarily—rates often match or beat conventional for borrowers with credit under 680. Mortgage insurance costs more though.

Question 3

Can I use FHA to buy a fixer-upper in Dixon?

Accepted Answer

Only if it meets HUD minimum property standards at closing. Peeling paint, roof damage, and safety hazards must be repaired first.

Question 4

How long does FHA approval take in Solano County?

Accepted Answer

Standard purchases close in 25-35 days. Rural properties with well/septic add 7-10 days for required inspections.

Question 5

Can sellers pay my closing costs on an FHA loan?

Accepted Answer

Yes, up to 6% of the purchase price. This is double the 3% conventional limit and helps preserve your cash.

Question 6

Will FHA mortgage insurance ever go away?

Accepted Answer

Not automatically. You must refinance to conventional once you reach 20% equity to eliminate monthly MI.

FHA Loans in Dixon: Low Down Payments for Solano County Homebuyers