Question 1

Can I use FHA to buy a duplex in Live Oak?

Accepted Answer

Yes, FHA allows 2–4 unit properties if you occupy one unit. You'd use rental income to help qualify.

Question 2

Is the FHA down payment lower than conventional?

Accepted Answer

FHA requires 3.5% down at 580+ credit. Conventional allows 3% down but requires stronger credit.

Question 3

How does mortgage insurance compare between the two?

Accepted Answer

Conventional PMI drops off at 20% equity. FHA MIP stays for the loan life if you put less than 10% down.

Question 4

Do FHA loan limits affect buyers in Sutter County?

Accepted Answer

Yes. FHA sets county-level limits. Sutter County limits cap what you can borrow — know the ceiling before you shop.

Question 5

What credit score gets the best conventional rate?

Accepted Answer

Lenders tier rates by score. A 740+ score typically gets the sharpest pricing. Rates vary by borrower profile and market conditions.

Question 6

Are rates higher right now for either loan type?

Accepted Answer

HousingWire flagged the 30-year fixed hitting 6.57% recently — that affects both loan types. FHA and conventional rates move together but aren't identical.

Conventional vs FHA Loans in Live Oak, CA