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

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Table of Contents

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

What parts of Madera county are eligible for USDA loans?

Do I need flood insurance?

How do I learn about Property Taxes in Madera County

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

How many people live in Madera 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 Madera

About Madera County

Approved Condominium Projects in Madera County

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

FAQ

What are the government loan limits in Madera County?

  • FHA Loan Limit $331,760 (Single family residence) / $424,800 (Duplex) / $513,450 (Triplex) / $638,100 (Fourplex)
  • USDA Loan Limit $299,570
  • VA Home Loan Limit $0 down up to $3,000,000 / 2 open VA loans at one time $510,400 *(Call 888-573-4496 for details)..


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What parts of Madera county are eligible for USDA loans?

Most of Madera County is eligible for USDA Rural Development loans. In fact, only the two zip codes in the city of Madera are not eligible. The rest of the county is rural enough to qualify for these loans, including other areas in Madera and all of Coarsegold, Chowchilla, and Oakhurst.
Eligible Zip Codes: 93601, 93604, 93610, 93614, 93636, 93643, 93644, 93645, 93653, 93669

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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. In Madera County there are flood plains along the river and on farmland in the unincorporated county.
Your agent can help you determine whether you’d be required to purchase flood insurance on a particular property.

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How do I learn about Property Taxes in Madera County?

For questions about property tax, you can get in touch with the Madera County Assessor’s Office, located at:
200 W. 4th Street
Madera, CA 93637
(559)675-7710
Fax: (559)675-7654
assessor@maderacounty.com
Office Hours: 8:00am to 5:00pm

In addition, you can contact the Assessor about appraisals or to see if you qualify for property tax exemptions. The county offers them for disabled veterans, homeowner-occupiers, or senior citizens. Buyers can also apply to have the value of existing solar panels excluded from the assessment.


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

As of February 2020, the median home price in Madera County is $335,500 and the median household income is $52,884.

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How many people live in Madera County?

Madera County has a population of 157,762. That means there are just over 70 people per square mile, on average, throughout the county. About 39% of the population lives in the City of Madera. Most of the communities have fewer than 5,000 residents.

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What are the major cities?

The largest city in Madera County is the county seat, which shares its name with the county and is home to over 61,000 people. After the City of Madera, the next-largest city is Chowchilla.

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

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

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

Madera County is in the heart of California’s Central Valley. In addition to being just a three-hour drive from both San Francisco and LA, Madera residents have Yosemite National Park in their backyard. The park’s South Gate is located in the county.

However, it’s not just the natural beauty that brings people to Madera. The county is home to award-winning master planned communities. These communities have homes well below the average California prices but don’t sacrifice attractive landscape or amenities. In communities like this, you can enjoy California’s famous indoor-outdoor living at an affordable price.

The county is also known for its quality of life, including education. For example, Madera County provides for its local students. The county has five high schools and over 40 elementary schools. For higher education, you won’t have to go far from home to get a quality education. The Madera Community College Center provides a local option. In addition, UC Merced and California State University, Fresno are just a short drive away.

Local Business

Madera’s central location also makes it a great place to do business. The county is home to major distribution centers for UPS, FedEx, and Amazon. Between that and the nearby Fresno International Airport, local businesses don’t have to worry about how they’ll be shipping or receiving their wares. The county also has a wide selection of land, whether you need an acre or 500.

Agriculture is the main industry in Madera and brings in over $2 billion each year. In addition, the beauty of Yosemite National Park and the surrounding forests bring thousands of tourists to the region.

In addition, the Madera County Economic Development Commission has plenty of resources for local businesses. They provide tools and resources for small businesses as well as reports on the local market.

If you’ve got a small business in Madera County, or are looking to start one, an SBA loan can help you keep your footing. SBA loans are backed by the government’s Small Business Administration and provide funds for small businesses that can’t get other forms of credit. You can use an SBA loan for working capital, to purchase land, or to buy equipment.

Daily Life

Life in Madera County is all about local support. In addition to supporting local businesses, residents get behind local artists and take the time to appreciate the beauty in their own back yards. Oakhurst is home to talented woodcarvers and craftspeople. Meanwhile galleries like Sierra Art Trails and the Yosemite Gateway Gallery Row show off local talents painting local landscapes.

When it comes time to get outdoors, it’s hard to think of a more beautiful place to explore. In addition to Yosemite, Bass Lake and Inyo National Forest offer endless hours of recreation. You can spend a lifetime exploring the trails, lakes, and forests of Madera County.

If you’d rather relax in the comforts of civilization, there is still plenty to do in the local community. Each summer, the Hot August Nights Classic Car Show and Street Party comes to town. Along with the cool cars, it brings the community together for a night of food, live music, and raffle prizes. Other activities, like Jazz on the Lake and the Bass Lake Craft Fair, will keep your social calendar busy all year long.

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Approved Condos in Madera County

There are currently no approved condominiums in Madera. If you want to get a condo approved, follow this link. At FedHome Loan Centers, 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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