FHA Loans in San Diego CA
Are you dreaming of buying a home in San Diego, but are unsure about your credit standing? With an FHA loan from Pacific Mortgage Group, you can realize those dreams, even without perfect qualifications. Let us guide you through securing an FHA loan and help you achieve your goal of homeownership in beautiful San Diego.
What Is an FHA Loan?
An FHA loan is a mortgage product backed by the Federal Housing Administration (FHA). By guaranteeing your loan, the FHA provides lenders with protection in case of default, resulting in reduced risk for both lenders and borrowers. This reduction in risk offers several benefits for homebuyers, including lower qualification requirements and more favorable loan terms.
Benefits of an FHA Loan
Before applying for an FHA loan, it’s crucial to understand the rules that govern this type of mortgage. Here are some essential things you need to know:
Low Down Payment
Purchase your dream home with a low down payment, making homeownership more accessible.
Affordable Rates
Qualify for competitive interest rates even if you don’t have perfect credit, helping you save money over the life of your loan.
Capped Closing Costs
Enjoy affordable, upfront costs with capped closing costs, which the seller may contribute towards.
Flexible Loan Terms
Choose from various loan terms, including fixed or adjustable rates, tailored to suit your financial needs and preferences.
Down Payment Assistance
You may qualify for additional down payment assistance, further reducing your upfront costs and making homeownership more affordable.
Recognized for Excellence and Trust
Pacific Mortgage Group is proud to hold credentials and honors that reflect our integrity and reputation in the mortgage industry.
Government Contracting Credentials
BusinessRate Best of 2025
BBB A+ Accreditation
Qualifying for an FHA Mortgage
Qualifying for an FHA mortgage is typically easier compared to other types of home loans. Here are the basic requirements you need to meet.
Minimum Credit Score
The minimum credit score range is 500-580, making FHA loans accessible to borrowers with less-than-perfect credit.
Debt-to-Income Ratio
Your debt-to-income ratio should be 43-45% or lower, demonstrating your ability to manage your finances responsibly.
Steady Employment
Show a history of steady employment for at least the two most recent years, ensuring lenders of your ability to repay the loan.
Clear CAIVRS Record
Have a clear Credit Alert Verification Reporting System (CAIVRS) record, indicating responsible financial behavior.
Property Requirements
The property you’re purchasing must be your primary residence, built on a permanent foundation, and meet certain construction standards.
Buy a San Diego Home with an FHA Loan
Ready to turn your homeownership dreams into reality? Contact Pacific Mortgage Group today at (951) 531-1399 to schedule your mortgage consultation and explore your FHA loan options. We proudly serve homebuyers in San Diego, CA, and beyond, offering personalized service and expert guidance every step of the way. Let us help you take the first step towards owning your dream home in sunny San Diego!
