Question 1

Does Fairfield qualify for USDA loans?

Accepted Answer

Most of Fairfield's city center does not qualify. Outlying areas of Solano County may. Check the USDA eligibility map before assuming.

Question 2

Which loan has lower mortgage insurance?

Accepted Answer

USDA mortgage insurance costs less than FHA over time. FHA charges both an upfront premium and a higher annual fee.

Question 3

What credit score do I need for FHA?

Accepted Answer

You need a 580 score for 3.5% down. Scores between 500 and 579 require 10% down instead.

Question 4

Does USDA have income limits in Solano County?

Accepted Answer

Yes. Your total household income must stay under the USDA limit for Solano County. Limits vary by household size.

Question 5

Can I use either loan for a multi-unit property?

Accepted Answer

FHA allows up to 4-unit properties if you occupy one unit. USDA is for single-family primary residences only.

Question 6

Which loan closes faster?

Accepted Answer

FHA typically moves faster. USDA requires an extra approval step from the agency, which can add time to closing.

FHA vs USDA Loans in Fairfield, CA