Buying a home in California with a smaller down payment? FHA financing may be worth comparing. I’ll help you look at the full monthly payment and cash needed to close, then compare FHA with conventional or VA options when applicable.

Explore buying a home · Explore refinancing · Call or text Melissa: (209) 702-8480

How FHA loans work

The Federal Housing Administration insures mortgages made by approved lenders. Eligible buyers may be able to purchase a primary residence with as little as 3.5% down. FHA is available to first-time and repeat buyers, and eligible one- to four-unit homes can qualify when you occupy the property.

What to compare before choosing FHA

Cash to close: Plan for a down payment and closing costs. Gift funds or down payment assistance may be possible when program rules allow.

Monthly payment: Include principal and interest, property taxes, homeowners insurance, and FHA mortgage insurance.

Other loan options: A conventional or VA loan may cost less for some buyers. Compare written estimates for the same home and timeline.

Common FHA questions

Do I need to be a first-time buyer?

No. Eligible repeat buyers can use FHA financing for a primary residence.

How much do I need down?

Some eligible borrowers can put down 3.5%. The amount you qualify for depends on credit, the property, income, debts, and lender requirements. Closing costs are separate from the down payment.

Does FHA require mortgage insurance?

Yes. FHA loans generally include an upfront premium and an annual premium paid in monthly installments. We’ll include those costs when comparing payments.

Can I refinance an FHA loan?

FHA has refinance options, and you may also be able to compare conventional refinancing. We’ll review the new payment, closing costs, term, and total cost before you decide.

Start with a personal FHA review

Tell me your target payment, available funds, and homebuying timeline. I’ll help you compare options and prepare for pre-approval when appropriate. Estimate your payment or call or text (209) 702-8480. You can also email malves@nexamortgage.com.

Melissa Alves · Mortgage Loan Officer · NMLS #1993867 · NEXA Mortgage. General information only. Loan approval and terms are subject to underwriting.