Question 1

What credit score do I need for FHA in Fairfield?

Accepted Answer

580 gets you 3.5% down with most lenders. Scores from 500-579 qualify with 10% down, though fewer lenders approve that range.

Question 2

How much is FHA mortgage insurance in Solano County?

Accepted Answer

Upfront premium is 1.75% of loan amount. Annual premium runs 0.55-0.85% depending on down payment and loan term.

Question 3

Can I use FHA for a Fairfield condo?

Accepted Answer

Yes, if the condo project holds FHA approval. Many Fairfield complexes qualify but check before making offers.

Question 4

Does FHA work for self-employed Fairfield buyers?

Accepted Answer

Absolutely. You need two years of tax returns showing steady or rising income. Bank statements alone don't work for FHA.

Question 5

How does FHA compare to VA loans in Fairfield?

Accepted Answer

VA eliminates down payment and mortgage insurance for eligible veterans. If you qualify for VA, it beats FHA financially.

Question 6

What property issues fail FHA approval in Fairfield?

Accepted Answer

Peeling paint, broken windows, missing handrails, roof damage, and safety hazards must be fixed before closing. Cosmetic issues are fine.

FHA Loans in Fairfield: Low Down Payment Routes to Solano County Homeownership