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Inyo County, California FHA, VA, and USDA Loan Information

Seal of Inyo County, California

Table of Contents

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

What parts of Inyo county are eligible for USDA loans?

Do I need flood insurance?

How do I learn about Property Taxes in Inyo County

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

How many people live in Inyo 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 Inyo

About Inyo County

Approved Condominium Projects in Inyo County

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

FAQ

What are the government loan limits in Inyo County?

  • FHA Loan Limit $373,750 (Single family residence) / $478,450 (Duplex) / $578,350 (Triplex) / $718,750 (Fourplex)(Fourplex)
  • USDA Loan Limit $295,320
  • 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 Inyo county are eligible for USDA loans?

All of Inyo County is eligible for USDA Rural Development loans.

Eligible Zip Codes: 92328, 92389, 93513, 93514, 93526,93545

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Do I need flood insurance?

The USDA, FHA, and VA all require people to purchase flood insurance on homes located in Special Flood Hazard Areas. The flood zones in Inyo County are mostly along irrigation drainages. Your agent can help you to check whether a property will require flood insurance.

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How do I learn about Property Taxes in Inyo County?

The County Assessor for Inyo County is Dave Stottlemyre. His office is located at: 168 N. Edwards St. Independence, CA93526

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 Inyo County, CA?

As of February 2020, the median home price in Inyo County is $362,450 and the median household income is $52,874.

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How many people live in Inyo County?

With a total population 17,987of Inyo County one of the smaller counties in California. In fact, there are fewer than two people per square mile throughout the county. Thanks to this, the average commute time is just over 16 minutes.

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What are the major cities?

The largest city in Inyo County is Bishop, with a population of 3,879. Other significant communities include Lone Pine, Mesa, and the county seat at Independence. Inyo is also home to five Native American Indian Reservations.

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

You can view all of the properties available for sale in Inyo 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 Inyo County

Are you interested in buying a home in Inyo? 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 Inyo 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 Inyo 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 Inyo 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 Inyo County

Inyo County is located in Central California and borders Nevada. The county is part of the Sierra Nevada region and is known for its mountains and forests. However, it is also famous as the site of Death Valley, the hottest, driest, and lowest National Park. A county of natural extremes, Inyo is also home to Mt. Whitney, California’s highest peak.

Work and Business

Like the rest of the Sierra Region, Inyo County is adding jobs outside of the traditional farming industries. For example, retail has been growing throughout the past decade. In addition, the county’s natural wonders have been doing wonders for employment. As the number of visitors to Death Valley continues to climb each year, Inyo County continues to have a vibrant tourism industry. Other notable attractions are Inyo National Forest and ski resorts like Mammoth Mountain.

Education

Inyo County is also home to two institutions of higher learning. Cerro Coso Community College provides students a chance to pursue associate degrees or prepare for transfer to a four-year college. Another avenue for pursing higher education is just across the Nevada border. Deep Springs College. This school only admits about a dozen students each year, but each student is granted a full scholarship. In exchange, they are expected to use their education to help humanity.

Outdoor Activities

Residents of Inyo County appreciate the natural beauty of the region. One of the most remarkable things about Inyo is that you can drive for an hour and end up looking at a totally different landscape. For example, the lakes at Loch Leven, Mills, and Pee Wee are a striking contrast to the dry, moon-like plains of Death Valley. Whether in the mountains or the desert, though, the county boasts great rock climbing throughout.

In addition to the summer outdoor activities, Inyo is famous for its winter sports. Ski resorts throughout the county provide a great chance to hit the slopes. You can even snowshoe on some of the county’s thousands of miles of nature trails.

Local Culture

However, Inyo County hasn’t forgotten the social graces. There are plenty of local events throughout the year to keep you busy. For example, Mule Days take place each May in Bishop. This festival, which has been going on for over 50 years, celebrates everything mule! In addition to the parade, there are various mule-riding events that take place throughout the weekend. There’s also a golf tournament, dance, and county fair.

Another beloved annual event is the Concert in the Rocks Festival, which brings musicians from all over the country for an outdoor festival. Up at the lakes, the Father’s Day Fishing Derby is a great bonding opportunity for fathers and children of all ages. In addition, the Lone Pine Film Festival is a great way to keep up with local cinema and expand your movie horizons.

Approved Condos in Inyo County

There are currently no FHA- or VA-approved condos in Inyo County. Nonetheless, if you’re looking for a condo in that area, contact us by clicking this link, and we can help you start the condo-approval process. FedHome Loan Centers can get almost any condo approved.

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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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