Question 1

Does Jamestown qualify for USDA loans?

Accepted Answer

Parts of Tuolumne County are USDA-eligible. You need to verify the specific address against current USDA rural eligibility maps.

Question 2

What credit score do I need for each loan?

Accepted Answer

FHA allows scores down to 580 for 3.5% down. Most USDA lenders want 640 or higher.

Question 3

Which loan has lower monthly costs?

Accepted Answer

USDA's guarantee fee is often cheaper than FHA's mortgage insurance. Run both scenarios with your broker.

Question 4

Can I use USDA for a fixer-upper in Jamestown?

Accepted Answer

USDA requires the home to be move-in ready. FHA's 203k program handles renovation financing if needed.

Question 5

Do both loans require a minimum down payment?

Accepted Answer

FHA requires 3.5% down at 580 credit. USDA requires zero down for eligible borrowers.

Question 6

Are there loan limits I should know about?

Accepted Answer

FHA enforces county-level loan limits for Tuolumne County. USDA focuses on income limits rather than loan size caps.

FHA vs USDA Loans in Jamestown, CA