Question 1

What is a community mortgage program?

Accepted Answer

It's a loan designed for underserved markets with flexible credit, income, and down payment requirements. Sonora's rural status often qualifies borrowers for these programs.

Question 2

Do I need perfect credit to qualify in Sonora?

Accepted Answer

No. Some community programs accept scores as low as 580. Non-traditional credit history is considered on select programs.

Question 3

How is this different from an FHA loan?

Accepted Answer

Community programs may offer lower mortgage insurance costs and more flexible income guidelines than FHA. We compare both before recommending.

Question 4

Can I combine this with down payment assistance?

Accepted Answer

Yes. Tuolumne County borrowers may qualify for stacked assistance programs. Ask us what's currently available in your area.

Question 5

Does Sonora qualify for USDA loans too?

Accepted Answer

Sonora's rural designation may make you USDA-eligible. We check USDA alongside community programs to find your best option.

Question 6

How do I find a lender for these programs in Tuolumne County?

Accepted Answer

Most retail banks don't offer them. A wholesale broker like SRK CAPITAL shops lenders who actively fund these programs in rural California counties.

Community Mortgages in Sonora, CA