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FHA Loans in Suisun City
Suisun City attracts first-time buyers with lower price points than Napa or Fairfield. FHA loans dominate here because they let you buy with just 3.5% down and credit scores as low as 580.
Travis Air Force Base proximity means we see plenty of FHA-to-VA transitions. Buyers start with FHA, build equity, then refinance to VA once eligible.
Downtown Waterfront District properties work well for FHA financing. The loan limits for Solano County easily cover most single-family homes in established neighborhoods.
Competition from Bay Area commuters pushed prices up recently. FHA's flexible underwriting helps local residents who lack 20% down compete against cash-heavy buyers.
You need a 580 credit score for the 3.5% down option. Scores between 500-579 still qualify but require 10% down, which defeats the purpose for most buyers.
Your debt-to-income ratio can stretch to 50% with strong compensating factors. We've closed deals at 48% DTI when borrowers had solid payment history and cash reserves.
Employment history matters more than job type. Two years in the same field works even if you changed employers. Self-employed borrowers need two years of tax returns.
FHA allows gift funds for the entire down payment. Family members can cover closing costs too, making this the easiest path to homeownership if you have minimal savings.
We work with 200+ wholesale lenders offering FHA products. Rate spreads between best and worst pricing hit 0.75% on identical scenarios, which costs you $20,000+ over the loan term.
Credit unions in Solano County advertise FHA loans but their overlays often require 620+ scores and lower DTI ratios. Going direct limits your approval odds versus a broker shopping multiple sources.
Lender overlays kill deals. Some won't touch condos, others reject recent job changes, and many add restrictions beyond FHA's baseline requirements.
We layer pricing based on your full profile. A 620 score with 5% down gets better rates than 580 with 3.5% down, even though both technically qualify.
FHA mortgage insurance costs more than conventional PMI now. You pay 1.75% upfront plus 0.55%-0.85% annually, and it never drops off unless you refinance.
The FHA appraisal process requires properties meet health and safety standards. Peeling paint, roof issues, or broken windows force sellers to make repairs before closing.
Older homes near Main Street often need work to pass FHA inspection. We coordinate with listing agents before offer submission to avoid surprises at appraisal.
Buyers with 5-10% down and 680+ credit should compare conventional options. You might avoid upfront mortgage insurance and get better long-term costs despite slightly higher rates.
VA loans beat FHA if you're military-connected. No down payment, no mortgage insurance, and easier appraisal standards make VA the obvious choice for eligible borrowers.
Conventional loans with 5% down cost less monthly than FHA once your score hits 680. PMI drops off at 78% loan-to-value while FHA insurance stays for life.
USDA loans work in parts of Solano County outside Suisun City proper. Zero down with no mortgage insurance premium beats FHA, but income limits disqualify many buyers.
Jumbo loans don't apply here since Solano County prices stay well below conforming limits. FHA works for 95% of Suisun City inventory.
Travis Air Force Base creates steady buyer demand. Military families use FHA before they establish VA eligibility or when they've already used their VA entitlement.
Suisun City's condo market requires extra scrutiny. The HOA must be FHA-approved, and buildings with deferred maintenance or high investor ratios won't qualify.
Commute times to Sacramento and Bay Area make this an affordable bedroom community. FHA's low down payment helps buyers sacrifice location for space and affordability.
Waterfront District redevelopment brought newer construction that passes FHA inspection easily. Older neighborhoods east of Main Street need careful property assessment before making offers.
You need a 580 score for 3.5% down. Scores from 500-579 require 10% down, which most buyers can't afford.
Yes, if the HOA is FHA-approved. We check approval status before you make an offer to avoid wasted time.
The 2024 FHA limit is $766,550 for single-family homes. That covers nearly all Suisun City inventory.
Standard FHA requires properties pass safety inspection. Use FHA 203k rehab loans for homes needing significant repairs.
Yes, family members can gift 100% of your down payment and closing costs. You need zero savings to qualify.
No negative impact. Proximity to the base actually helps resale value and appraisals due to consistent buyer demand.
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.