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FHA Loans in Visalia
Visalia sits in the agricultural heart of California, where home prices trend below coastal markets. FHA's 3.5% down payment minimum opens homeownership to buyers who can't save 20% in this farming community.
Most Visalia borrowers qualify for FHA with credit scores as low as 580. That matters in Tulare County, where income from seasonal agricultural work can make conventional loan approval harder.
You need a 580 credit score for the minimum down payment. With scores between 500-579, you'll need 10% down instead.
FHA caps your debt-to-income ratio at 43% in most cases, but we've pushed to 50% with strong compensating factors. You must provide two years of tax returns and recent pay stubs.
Every major lender offers FHA loans, but their overlays differ wildly. Some banks add stricter credit requirements beyond FHA's baseline minimums.
Credit unions in Tulare County often match FHA guidelines exactly without extra restrictions. We shop across 200+ lenders to find who'll approve your specific profile, not just who advertises FHA.
FHA's upfront mortgage insurance premium hits 1.75% of your loan amount, added to closing costs. Monthly insurance runs 0.55% to 0.85% annually depending on your down payment and loan size.
That insurance doesn't drop off like PMI does on conventional loans. You're stuck with it for the loan's life unless you put 10%+ down, then it cancels after 11 years. Most Visalia buyers refinance to conventional once they hit 20% equity.
USDA loans beat FHA in rural Tulare County areas with zero down and no upfront insurance. Check if your Visalia property qualifies for USDA first.
Conventional loans need higher credit scores but drop mortgage insurance at 20% equity. If you've got 620+ credit and stable W-2 income, compare both options before committing to FHA.
Visalia's older housing stock includes homes built before 1978. FHA requires lead paint inspections and disclosures on these properties, adding a week to escrow timelines.
Agricultural workers with seasonal income need two years of consistent work history. FHA doesn't average fluctuating income the same way conventional loans do—we calculate it conservatively, so your buying power may be lower than you expect.
FHA 203(k) loans let you roll renovation costs into your mortgage. The home must be livable at closing, and you'll need detailed contractor bids upfront.
Yes, but the home must be built after June 1976 and permanently fixed to a foundation you own. Most lenders require the unit to be at least 400 square feet.
CalHFA's MyHome Assistance provides 3.5% in deferred-payment loans that stack with FHA. You need 660+ credit and can't exceed income limits based on household size.
Two years after Chapter 7 discharge, one year into a Chapter 13 repayment plan with court approval. You must rebuild credit to at least 580 during that waiting period.
Absolutely, but you need two years of tax returns showing consistent income. We average your net profit after deductions, which often lowers your qualifying income significantly.
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.