FHA Loans in San Diego

FHA Loans in San Diego

FHA loans in San Diego CA are very popular these days. FHA loans in San Diego are great because they only require 3.5% down payment to buy a home. The 3.5% down payment on an FHA loans in San Diego may also be a gift from a blood relative. FHA loans in San Diego are popular mainly because many clients do not have the traditional 20% down payment that most conventinal loans require.

 FHA loans in San Diego are available up to $697,500. Most lender require a credit score of 640 to be approved on an FHA loan in San Diego, however, we have investors that will allow us to go all the way down to a 500 score. You must have a 660 score to get a Jumbo FHA loan in San Diego.

FHA loans in San Diego must be on a primary residence (you must live there). Upfront mortgage insurance as well as monthly mortgage insurance is required on all FHA loans in San Diego. On a 30 year fixed 3.5% down FHA loan in San Diego, the upfront mortgage insurance fee is 1.00% of the initial loan amount and the yearly mortgage insurance fee is 1.15% of the loan amount.

Please contact Derek for any FHA loans in San Diego questions.

For more information on FHA loans in San Diego, please visit my website at http://derekmcclintock.com/fha-loans