Question 1

What's the conforming loan limit in Alameda County for 2026?

Accepted Answer

The 2026 conforming limit is $1,249,125. Loans above that amount are jumbo and carry stricter requirements. FHA and VA loans also cap at $1,249,125 in this county.

Question 2

Is Alameda County an FHA high-cost area?

Accepted Answer

Yes. Alameda County is designated an FHA high-cost area, which means the FHA limit matches the conforming limit at $1,249,125 for 2026.

Question 3

Is Alameda County a VA high-cost area?

Accepted Answer

Yes. VA loans in Alameda County also follow the high-cost limit of $1,249,125 for 2026. This applies to all eligible veterans and active-duty service members.

Question 4

How much do I need to put down on a conventional loan?

Accepted Answer

Conventional loans typically require 5% to 20% down. At 20% down or more, you skip PMI entirely. Below 20%, mortgage insurance applies until you hit 78% LTV.

Question 5

Do I need 20% down to avoid PMI?

Accepted Answer

Yes — 20% down is the standard threshold to skip PMI on a conventional loan. Below that, PMI runs until your loan-to-value ratio drops to 78% through payments or appreciation.

Question 6

What credit score do I need to qualify?

Accepted Answer

Most lenders require 620 FICO for FHA and 640 for conventional. VA loans are more flexible. The higher your score, the better your rate and terms.

Question 7

How does the new transit-oriented housing law affect Albany?

Accepted Answer

SB 79 requires cities to allow denser housing near transit starting July 1. This may increase supply and affect long-term property values in walkable neighborhoods near BART.

Question 8

What's the difference between conventional and FHA?

Accepted Answer

FHA requires 3.5% down minimum and mortgage insurance for the life of the loan if down payment is under 10%. Conventional typically needs 5% down and PMI cancels at 78% LTV.

Question 9

Can I get a VA loan with zero down?

Accepted Answer

Yes. VA loans offer zero-down financing for eligible veterans, active duty, and surviving spouses with a Certificate of Eligibility. A funding fee replaces PMI.

Question 10

What does the VA funding fee cover?

Accepted Answer

The VA funding fee is a one-time cost that replaces mortgage insurance. At zero down, it's 2.15% of the loan amount. With 10% or more down, it drops to 1.25%.

Question 11

How long does it take to close on a home in Albany?

Accepted Answer

Most conventional closings take 30 to 45 days from application to funding. FHA and VA loans may take 5 to 10 days longer due to additional appraisal and underwriting steps.

Question 12

What's the median household income in Alameda County?

Accepted Answer

Alameda County's median household income is $126,240. This figure matters for USDA loan eligibility, which caps at 115% of area median income, scaled by household size.

Question 13

How do property taxes affect my monthly payment in Albany?

Accepted Answer

Alameda County property taxes run roughly 0.76% of assessed value annually. On a $800,000 home, expect about $6,100 per year in property taxes, or roughly $510 per month.

Question 14

Are there new restaurants or amenities affecting Albany's appeal?

Accepted Answer

Berkeley just added five new restaurants in May, including dumpling, ramen, and Thai options. These neighborhood improvements can support property values and buyer demand nearby.

Mortgage questions from Albany buyers, answered