FHA Loans (Investor Angle) in Modesto, CA
Loan-size math and qualifying analysis for FHA financing on Modesto's $447k median home value. Strong fit.
Strong fit for Modesto.
Modesto medians ($447k) sit below FHA loan limits in most counties, and rental fit (66/100) makes house-hacking 2-4 unit FHA acquisition viable here.
Payment on Modesto's $447k median.
| Median home value (Modesto) | $447,353 |
| Assumed LTV | 97% |
| Loan amount | $431,695 |
| Cash to close (down payment) | $15,658 |
| Assumed rate | 6.75% |
| Term | 30-year amortizing |
| Monthly P&I | $2,800/mo |
FHA financing — the mechanics.
A residential mortgage insured by the Federal Housing Administration. Low down-payment + flexible credit. Critically for investors: FHA loans are assumable — a new buyer can take over the original loan with the same rate and terms (subject to lender approval).
Original FHA: 580+ FICO, 3.5% down, owner-occupancy required at origination. Assumption: new buyer needs ~$500-1,500 fee + creditworthiness check + occupancy intent.
How California law affects this loan.
California is tenant-friendly with rent control in many cities on landlord-tenant law. See full FHA in California breakdown.
Frequently asked.
What's the typical FHA loan size for a property in Modesto?
On Modesto's $447k median home value, a FHA loan at the standard 97% LTV would be approximately $432k, requiring $16k down.
What's the monthly payment on a typical FHA loan in Modesto?
Fully-amortizing 30-year payment on a $432k FHA loan at the typical rate of 6.75% would be approximately $3k/month, excluding taxes and insurance.
Is Modesto a good market for FHA financing?
Modesto medians ($447k) sit below FHA loan limits in most counties, and rental fit (66/100) makes house-hacking 2-4 unit FHA acquisition viable here.
What credit and reserves do FHA lenders require for Modesto properties?
Original FHA: 580+ FICO, 3.5% down, owner-occupancy required at origination. Assumption: new buyer needs ~$500-1,500 fee + creditworthiness check + occupancy intent.
Compare financing options.
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