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

(Please note - these loan amounts are updated for 2021)

In this video I break down the ins and outs of 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 the FHA home loan details.

You do *not* need to be a first time home buyer - you can have never owned before and/or never owned anything ever.

This will work for anyone looking to *live* in the home as their primary residence (does not work on second home, vacation home, or investment properties).

This works on any livable home, PUD (planned urban development), town home/condo (that is an FHA approved complex), and livable 2 unit, 3 unit, and 4 unit properties. I do not personally deal with land, mobile, or manufactured homes.

The minimum down payment needed is just 3.5% of the purchase price. Just take your purchase price x 0.035 = your needed down payment needed. 

Here's a few down payment needed examples:

$300,000 x 0.035 = $10,500

$400,000 x 0.035 = $14,000

$500,000 x 0.035 = $17,500

$600,000 x 0.035 = $21,000

$700,000 x 0.035 = $24,500

$750,000 x 0.035 = $26,250

The maximum loan amount in San Diego are as follows:

Max loan amount for a 1 unit is $753,250

Max loan amount for a 2 unit is $964,300

Max loan amount for  3 unit is $1,165,600

Max loan amount for a 4 unit is $1,448,600

The maximum debt to income ratio allowed is 46.99%/56.99% - that means up to 46.99% of your debt can be towards a total housing payment and up to 56.99% of your debt can go towards your total housing payment plus debts (video explains better in detail).

This loan works for for anyone that has a full time job or business for at least 2 years or longer (It's not just limited to first time home buyers, those with limited income, or those with less than perfect credit.)

The down payment and closing cost monies can 100% come as a gift from parents or another relative, an employer, an approved charity group, or a government home buyer program.

Being approved with over 40 different wholesale lenders I have a variety of FHA lenders that require different credit score minimums. But, I have lenders that will go down to a 580 minimum credit score.

The waiting periods for the FHA loan are as follows:

2 years from Chapter 7 discharge date

3 years if you have a foreclosure

3 years if you have a short sale

Let's dive into some typical questions and answers:

Question: Can I use the FHA loan in conjunction with your down payment assistance program?

Yes, 100% - that's how it is done. There's a small loan for your 3.5% down payment, you have a 96.5% FHA loan, and together that = 100% financing.

Question: If I have had an FHA loan before - can I get one again?

Answer: Yes, of course. You can have 1 at a time (usually) but you can buy and sell using an FHA loan as much as you want.

Question: Why would I go with an FHA loan over a conventional loan?

Answer: Generally speaking the FHA loan allows for a higher DTI ratio, lower credit score, lower down payment needed above the conforming limits, and overall easier to get as a buyer.

Question: Okay, you have mentioned the positives - what are some negatives?

Answer: I would say some of the negatives versus a conventional loan are: the UFMIP, having it mandatory to buy an FHA approved condo/town home complex, and owner occupied homes only.

Question: If I have just enough for the down payment - is there a way I can get my closing costs covered?

Answer: Yes, we can ask the seller to pay for them in our offer, we can use a lender rebate (video covers), or we can use a combination of the both to limit cash out of pocket.

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?

Leave me a comment below – or, contact me here

Your San Diego 3.5% Down FHA Insider,


5 San Diego FHA Loan Secrets Revealed!

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