San Diego's #1 3.5% Down FHA Home Loan Q & A in 2021

(Please note - these loan amounts have been updated for 2021)

In this video I break down some of the most common questions I get about the 3.5% down FHA Loan right here in San Diego.

This mortgage loan is great for anyone that wants to put down as little as 3.5%, get a loan amount up to $753,250, and take advantage of record low interest rates

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Without further ado - let's jump into several FHA home loan questions I get...

Question #1 - What's the Minimum Down and Max Loan Amount?

The minimum down payment needed is 3.5%. That can be your money, a gift (that's not repaid), or from down payment assistance. The maximum loan amount is $753,250 in San Diego.

Question #2 - What Types of Property Can I Use an FHA Loan For?

You need to live in the property (so no 2nd home, vacation home, or investment property. And, its good for a home, PUD (planned urban development), townhome, or condo. Just keep in mind the townhome/condo needs to be on this list. I personally do not deal with land, mobile home, or manufactured homes.

Question #3 - If I Had an FHA Loan Before - and Foreclosed - Can I Buy Using One Again?

Yes, as long as your foreclosure was 3 years or older - you are allowed to have bought before, using an FHA loan, had it foreclosed on, and then are buying using it again.

Question #4 - Talk More About the UFMIP and the MIP

You pay 1.75% upfront for the UFMIP (and that's usually just financed into the loan. Then, if you are putting down the minimum of 3.5% - you pay 0.85% monthly. Keep in mind for any loan, where you put down less than 20%, you will be paying mortgage insurance monthly. Yes, there are loans that do not have mortgage insurance, with less than 20% down, but your rate is *higher* - so its a wash.

Question #5 - Can I Own a Home Now - and Buy Using an FHA Loan?

Yes, if you own a home now, as long as you have a loan that is *not* FHA, and you buy a new place, to live in (owner occupied), having more than 1 mortgage loan (and house) at a time is fine.

Here's your steps to begin:

Fill out my online application in 10 minutes or less at

Once complete, log back in, finish application, and upload your needed documents (Drivers license, last 30 days paychecks, last 2 months bank statements, latest stocks/bonds/mutual funds/etc statements, last 2 years taxes and W2's)

I will be alerted, check everything over, run your credit, review, and contact you about best scenario.

Here's more San Diego FHA home loan videos below:

SD 3.5% Down FHA Loan Details

SD 3.5% Down FHA Loan Secrets

SD 3.5% Down FHA Loan Q & A

SD 3.5% Down FHA Loan Needed Documents

What do you think?

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Your San Diego 3.5% Down FHA Insider,


5 San Diego FHA Loan Secrets Revealed!

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