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

Seal of Lake County, California

Table of Contents

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

What parts of Lake county are eligible for USDA loans?

Do I need flood insurance?

How do I learn about Property Taxes in Lake County

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

How many people live in Lake 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 Lake

About Lake County

Approved Condominium Projects in Lake County

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

FAQ

What are the government loan limits in Lake County?

  • FHA Loan Limit $331,760 (Single family residence) / $424,800 (Duplex) / $513,450 (Triplex) / $638,100 (Fourplex)
  • USDA Loan Limit $369,130
  • 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 Lake county are eligible for USDA loans?

All of Lake County is eligible for USDA Rural Development home loans.

Eligible Zip Codes: 95422, 95423, 95424, 95426, 95443, 95451, 95453, 95457, 95458, 95461, 95464, 95467, 95485, 95493

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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. Lake County has many flood zones. Many of them, as expected, are on near the lake. However, there is also a floodway that passes through a section of Clearlake. Your agent can help you to check whether a particular property is in a flood hazard area. In addition, FEMA recommends people purchase fire insurance if their property is on land that was damaged by wildfires, even if it is not required.

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How do I learn about Property Taxes in Lake County?

Richard A. Ford is the current Assessor-Recorder in Lake County. His office is located at:
Lake County Courthouse 255 North Forbes Street Rm. 223 Lakeport, CA 95453
Hours: Mon – Thu 8:00 am to 5:00 pm Open during the lunch hour Closed Fridays


The Assessor’s Office is where you can learn about your property taxes in Lake County and file your statement online. In addition, you can contact the Assessor about appraisals or to see if you qualify for tax relief for disabled veterans, homeowner-occupiers, or senior citizens.


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

As of February 2020, the median home price in Lake County is $299,900 and the median household income is $42,475.

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How many people live in Lake County?

Lake County has a population of 64,382. There are fewer than 52 people per square mile. About 66% of homes in Lake County are owner-occupied.

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What are the major cities?

The largest city in Lake County is Clearlake, with a population of 15,250. The only other official city is the county seat, Lake Port. Other important communities are Hidden Valley Lake, Kelseyville, and Lucerne. The county 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 Lake 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 Lake County

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

Lake County is a tight-knit mountain community in Northern California, just north of the San Francisco Bay Area. The whole county boasts a small-town feel and is resilience personified. It also has had the cleanest air in California for the past 22 years in a row. In addition to breathing easy, residents enjoy the beauty of Clear Lake and the rolling hills. It’s also only a short drive to the mountains, the oceans, and wine country.

Lake County is also one of the fastest-growing wine regions in the state. Although it is outside the Napa and Sacramento Valleys, when you take a sip of Lake County wine, you’ll have no doubt you’re still in Wine Country.

Business in Lake County

The county has also worked to create an entrepreneurial business climate. Local business associations provide support and networking. In addition the Economic Development and Community Development teams are eager to help new businesses get set up in Lake. For funding, SBA loans can provide businesses the capital they need to get started or stay afloat.

Education

Lake County is home to six school districts. In addition, county programs provide distance learning and special needs education for students throughout the county. Outside the classroom, children and adults alike can learn about the night sky at Taylor Observatory. The clear skies and lack of bright city lights make for great stargazing.

For higher education, the Lake County Campus of Woodland College provides education within the county. Mendocino College is a nearby alternative option. The county also provides Career Technical Education for nursing.

Outdoor Recreation

One of the things residents love about Lake County is the area’s natural beauty. The county gets about 265 days of sunshine each year, which give you plenty of time to enjoy the outdoors. You can hike or boat in Clear Lake State Park or head over to Mount Konocti to check out one of the newest day hikes in California. This mountain is actually an ancient volcano and was only recently opened to hikers. There are also thousands of miles of mountain bike trails throughout the county.

If you’d rather relax in the outdoors, the county’s many natural hot springs might be just the ticket. Harbin Hot Springs, Saratoga Springs, and Witter Springs are just a few of the mineral springs in the area.

Local Culture

There are also plenty of local festivals that take place each year. The Kelseyville Pear Festival celebrates the fact that Lake County is the largest supplier of pears in California. For wine aficionados, the Lake County Wine Adventure, held each May, is the highlight of the spring.

Finally, there are the local holiday parades and festivals. From Clearlake’s Worm Races on the Fourth of July to the teddy bear reunion in Upper Lake, each community has its own charming traditions.

Approved Condos in Lake County

There are currently no VA- or FHA-Approved Condos in Lake County. However, if you want to get a condo approved, FedHome Loan Centers can help you out. Just click this link to get in touch with us; we 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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