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

Seal of Modoc County, California

Table of Contents

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

What parts of Modoc county are eligible for USDA loans?

Do I need flood insurance?

How do I learn about Property Taxes in Modoc County

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

How many people live in Modoc 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 Modoc

About Modoc County

Approved Condominium Projects in Modoc County

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

FAQ

What are the government loan limits in Modoc County?

  • FHA Loan Limit $331,760 (Single family residence) / $424,800 (Duplex) / $513,450 (Triplex) / $638,100 (Fourplex)
  • USDA Loan Limit $275,300
  • 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 Modoc county are eligible for USDA loans?

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

Eligible Zip Codes: 96006, 96015, 96054, 96101, 96104, 96108, 96110, 96112, 96115, 96116

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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 Modoc County there are many flood plains, especially along the river and on irrigated farm lands. 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 Modoc County?

For questions about property tax, you can get in touch with the Modoc County Assessor, Kristen DePaul. Her office is located at: 204 South Court Street, STE 106 Alturas, CA 96101

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 Modoc County, CA?

As of March 2020, the median home price in Modoc County is $169,000 and the median household income is $45,149.

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How many people live in Modoc County?

Modoc County has a population of just 8,777 people and there are just over two people per square mile throughout the county. In addition, the average commute in the county is less than 16 minutes door-to-door.

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What are the major cities?

Alturas is the county seat in Modoc and is the county’s only city. It has a population of 2,827. The next-largest community, California Pines, is home to 520 residents. Other notable communities are Cedarville, Newell, and Canby.

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

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

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

Modoc County is known as “Where the West Still Lives” – a tribute to the county’s rugged frontier spirit. Residents are so proud of their ranching and cowboy past that the courthouse still features hooks where people can hang their cowboy hats. The county, established in 1846, was named after the Modoc Native Americans. Located on the northern edge of California, Modoc County offers rich history and plenty of opportunities to embrace the great outdoors.

In addition to its famous forests, the county is also home to amazing rivers and lakes. Both Modoc and Lake Shasta National Forests contain miles of hiking trails, plenty of camp sites, and even places for snowmobile riding in the winter months.

A Winter Wonderland

Indeed, Modoc residents love the snow they get each winter. One of the biggest events in Alturas is the yearly Winterfest. This festival features a cozy bonfire and a parade of lights. Another of the county’s most famous features is the snow-capped Warner Mountain Range, where you can see horses ranging over the slopes.

Education

Local schools in Modoc take full advantage of the learning opportunities the natural environment offers. Learning about earth science becomes more fun when you have access to Modoc National Forest. However, the county also strives to widen students’ horizons and provides plenty of opportunities to get out of the county and see what is available to them in the wider world.

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Approved Condos in Modoc County

There are currently no approved condominiums in Modoc. 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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