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Butte County, California FHA, VA, and USDA Home Loan Information

Seal of Butte County, California

Table of Contents

What are the government loan limits in Butte County, CA?

What parts of Butte county are eligible for USDA loans?

Do I need flood insurance?

How do I learn about Property Taxes in Butte County

What is the median home price in Butte County, CA?

How many people live in Butte County?

What are the major cities?

How do I see FHA- and VA-Approved homes for sale?

Is there a cost to have a real estate agent represent me?

What closing costs do I need?

How can I get assistance with closing costs?

How to Buy a Home in Butte

About Butte County

Approved Condominium Projects in Butte County

How much of a loan can I qualify for, based on my income?

FAQ

What are the government loan limits in Butte County?

  • FHA Loan Limit $331,760 (Single family residence) / $424,800 (Duplex) / $513,450 (Triplex) / $638,100 (Fourplex)
  • USDA Loan Limit $339,000
  • VA Home Loan Limit $0 down up to $3,000,000 / 2 open VA loans at one time $510,400 *(Call 877-432-5626 for details).


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What parts of Butte county are eligible for USDA loans?

Almost all of Butte County is eligible for USDA loans. Oroville is the only city that is entirely ineligible. If you are looking at homes in Chico, be aware that only a small part of the city (95928) is eligible. Go by zip code rather than city name.

Eligible Zip Codes: 95914, 95916, 95917, 95928, 95930, 95938, 95941, 95942, 95948, 95954, 95968, 95969, 95973, 95978

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Do I need flood insurance?

The FHA, VA, and USDA all require flood insurance in Special Flood Hazard Areas. In Butte County, these areas are mostly located along the rivers and near Chico. In addition, FEMA recommends people get flood insurance if their property is in an area that was damaged by the fires.

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How do I learn about Property Taxes in Butte County?

Dianne Brown is the Butte County Assessor. The Assessor’s office has locations in both Chico and Oroville. Properties damaged by fire, flood, or other calamity can be reappraised for tax relief.

In addition, Veterans, owner-occupiers, and senior citizens may be eligible for property tax relief. You can find out whether you qualify through the county assessor. In addition, the Assessor’s Office can do re-appraisals to determine property values and flood risks.


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What is the median home price in Butte County, CA?

As of February 2020, the median home price in Butte County is $340,000.

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How many people live in Butte County?

The total population of Butte County is 231,256, of which about 8% are Veterans. Despite having one large city – Chico – the county still has fewer than 125 people per square mile. The county is known for having plenty of quiet, rural places to get away from the hustle and bustle of city life.

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What are the major cities?

The three largest cities in Butte County are Chico, Oroville, Gridley.

How do I see FHA- and VA-Approved homes for sale?

You can view all of the properties available for sale in Butte County through the Multiple Listing Service. You can also see approved condos at the bottom of this page.

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Is there a cost to have a real estate agent represent me?

The seller must pay real estate professionals’ commission, not the buyer. This means that, as a homebuyer, there is no cost to have a real estate agent represent you. In fact, it’s a good idea to get your own agent in order to have someone in your corner during the negotiation process.

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What closing costs do I need?


For FHA loans, closing costs can end up being 3-4% of the loan amount. These costs include origination fees from the lender, any discount points purchased for a better interest rate, and pre-paid items like insurance and taxes.

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How can I get assistance with closing costs?

There are several ways to reduce the amount you have to pay at closing. One way is to get down payment assistance. The FHA’s Within Reach program provides grants to help low- and middle-income families with their down payment. There is also the CalHome program, which offers down payment assistance and to reduce or finance other closing costs.
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How to Buy a Home in Butte County

Are you interested in buying a home in Butte? This is a step by step guide to all the ins and outs of the homebuying process. For more detail about FHA loans, be sure to check out our complete guide. We also have an in-depth guide to VA loans and the USDA’s Rural Development home loan program.
For now, let’s look at the basic steps to buying a home – and what you’ll have to look out for in Butte County.

  1. Get in touch with a loan officer – give us a call at 877-432-5626

    We can help you figure out what type of loan you might qualify for. Programs through the VA, USDA, and FHA allow you to buy a home with a small down payment – or no down payment at all. We will also check your credit and income to see how much of a loan you can qualify for. When we do this, we do a “soft pull” on your credit. This is different from an official credit inquiry and won’t hurt your credit score.

  2. Compare loan offers.

    Either call us or fill out the form on this page.

  3. Give your Loan Officer the information they need to find you a loan

    For a purchase loan or cash-out refinance:

    • Your ID
    • Previous two years of W2s
    • Most recent 30 days paystubs
    • Most recent 60 days bank statements
    • Landlord and HR/Payroll Department contact info

    For a refinance loan, you will also need information on the loan you want to refinance.


  4. Compare Loan offers

    Compare the interest rates and APRS – but keep in mind that the fixed- and adjustable-rate mortgages are apples and oranges. Use the Loan Estimate to compare the true costs of each loan, both month-to-month and over the life of the mortgage.

  5. Find a home

    Get connected with a FedHome Loan Centers Real Estate Agent. Once you meet with them to talk about your wants and needs, you can sign up for the property search feed. This will give you alerts about homes for sale in Butte County. Now you’re ready to preview properties and start touring homes.

  6. Make an offer and negotiate the terms of the sale

  7. Get the necessary and recommended inspections

    Required Inspections:

    • Termite Inspection
    • Well or septic inspections, if applicable
    • We can help you check if your home is in one of the Butte County flood hazard areas.

    Recommended Inspections:
    Home Inspection, Roof Inspection, Sewer Inspection

  8. Get the home appraised

    Construction loans require a construction appraisal and permit approval

  9. Lock in your interest rate

    Pro Tip: Wait until the appraisal to lock in your loan rates. If it turns out you need to make repairs, it can push the closing back. Then you run the risk of losing that rate or having to pay an extension fee.

  10. Close the deal and get packing!

    You’re ready to go!

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About Butte County

Whether you’re looking to get away from it all or put down roots in a new city, you can find the perfect home in Butte County.

Chico, the largest city in Butte County, is most famous for Chico State University. However, it is more than just a college town; Chico is also an artistic hub. Thanks to the public art program, you’re certain to see many murals, sculptures, and artistic displays just walking around the streets of Chico. The city’s annual Artoberfest celebrates local art and culture all month long.

Beyond Chico – the Rural Areas of Butte County

In addition to the lively arts scene, Butte County is also at the heart of California’s agricultural region. You can get back in touch with the seasons, enjoying the different fruits and vegetables grown in the area. Farmers’ markets in Butte County run all year long.

Once you get outside the cities, you can start to appreciate the natural beauty of Butte County. Although it was founded during the gold rush, the county’s natural wealth goes beyond just gold. There are thousands of trails and nature parks throughout the county, perfect for exploring by bike, on foot, or on horseback.

In the high country, you’ll see that living in California doesn’t mean going without a winter wonderland. Areas like Butte Meadow are covered in snow each winter. Whether you make these mountains your home or travel up to see the snow, you’ll appreciate the seasonal beauty of Butte County.

If you already live in Butte County and are looking to buy a home, you can get help from Homebuyer Assistance grants. The county has a program available to help residents – especially those affected by the fires – to buy or build homes. You can get down payment assistance and lower building permit fees.

Click this link to contact FedHome Loan Centers to be matched with a licensed real estate agent.

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Approved Condos in Butte County

Below you will find the current VA- and FHA-Approved Condos in Butte County. Don’t see the condo project you’re looking for? Fill out the form on the side of this page, and we can help you get your condo approved.

Or, give us a call at: 877-432-5626.

FHA-Approved Condos

SAWGRASS ESTATES HOMEOWNERS**
S002940 001 1125 SHERIDAN AVE
CHICO, CA 95926 BUTTE HRAP ALL 69 RESIDENTIAL UNITS IN PROJECT.

**SAWGRASS ESTATES HOMEOWNERS ASSOCIATION Exists
Recorded/
Not Uploaded No 5.79% Approved 10/25/2018 10/25/2020
SIERRA LAKESIDE CONDOMINIUMS
S013213 001 1 SIERRA LAKESIDE LN
CHICO, CA 95928 BUTTE HRAP ALL 61 UNITS IN PROJECT. Exists
Recorded/
Uploaded No 1.61% Approved 11/05/2018 11/05/2020
WOODOAK HOMEOWNERS ASSOC.*
S002872 001 555 VALLOMBROSA AVE
CHICO, CA 95926 BUTTE HRAP ALL 91 UNITS IN PROJECT.

*LEGAL NAME: WOODOAK HOMEOWNERS ASSOCIATION Exists
Recorded/
Uploaded No 31.86% Approved 10/09/2018 10/09/2020

VA-Approved Condos

EDEN ROC ESTATES
000283 Condo

HARTFORD PARK
000165 Condo

SAWGRASS ESTATES CONDOS
007514 Condo

SIERRA LAKESIDE POA
000245 Condo

SIERRA SUNRISE
000247 Condo

SUNRIDGE CONDOMINIUMS
007402 Condo

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How much of a loan can I qualify for, based on my income?

Monthly Income Purchase Price
$2,628.90 $195,175.91
$2,832.00 $210,254.55
$3,181.50 $236,202.27
$3,612.00 $268,163.64
$3,985.50 $295,893.18
$4,361.10 $323,778.64
$4,971.90 $369,125.91
$5,761.50 $427,747.73
$6,892.20 $520,625.00
$5,199.60 $368,791.82
$5,743.80 $408,815.91
$6,249.90 $450,287.73
$6,998.10 $501,960.45
$9,776.70 $725,845.91
$5,568.00 $413,381.82
$6,574.80 $488,129.09
$7,569.60 $561,985.45
$5,141.40 $381,710.00
$6,345.30 $471,090.45
$7,639.80 $567,197.27
$8,360.10 $620,674.09
$9,260.70 $687,536.82
$10,095.30 $749,499.55
$12,165.00 $903,159.09
$13,929.60 $1,034,167.27
$17,511.00 $1,300,059.09
$18,406.80 $1,366,506.06

Purchase Price subject to credit and income evaluation.

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