Question 1

Is Woodlake eligible for USDA loans?

Accepted Answer

Woodlake is generally in USDA-eligible territory. You must verify each specific property address through the USDA eligibility map.

Question 2

What credit score do I need for USDA?

Accepted Answer

Most USDA lenders want a 640 credit score. FHA goes as low as 580 with 3.5% down.

Question 3

Does USDA have income limits in Tulare County?

Accepted Answer

Yes. USDA caps household income based on family size and county. Exceeding the limit disqualifies you regardless of credit.

Question 4

Which loan has lower monthly costs?

Accepted Answer

USDA typically carries lower mortgage insurance than FHA. That difference adds up significantly over a 30-year loan.

Question 5

Can I use FHA or USDA for a fixer-upper?

Accepted Answer

FHA has a 203k rehab option for fixer-uppers. USDA also has a repair loan program, but with stricter conditions.

Question 6

Do both loans require mortgage insurance?

Accepted Answer

Yes, both programs require mortgage insurance. USDA calls it a guarantee fee — it runs lower than FHA's MIP in most cases.

FHA vs USDA Loans in Woodlake, CA