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 this amount are jumbo and carry stricter requirements. Jumbo rates typically run 0.125% to 0.5% higher.

Question 2

Is Alameda County an FHA high-cost area?

Accepted Answer

Yes. Alameda County is an FHA high-cost area. The FHA loan 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 can go up to $1,249,125 in 2026. This allows eligible veterans to buy higher-priced homes with zero down.

Question 4

What credit score do I need to buy in Fremont?

Accepted Answer

Conventional loans typically require 620 FICO minimum. FHA accepts 580 FICO with 3.5% down. VA loans usually want 580+ from lenders.

Question 5

How much down payment do I need for a conventional loan?

Accepted Answer

Conventional loans accept 3% to 5% down for qualified buyers. At 5% down, PMI applies until you reach 78% LTV. At 20% down, PMI drops entirely.

Question 6

Do I need 20% down to avoid PMI on a conventional loan?

Accepted Answer

Yes — 20% down (80% LTV) is the threshold to skip PMI. Below 20%, PMI applies and adds to your payment. PMI cancels automatically at 78% LTV.

Question 7

What's the minimum down payment for an FHA loan?

Accepted Answer

FHA requires 3.5% down with a 580 FICO score. You'll pay an upfront mortgage insurance premium of 1.75% of the loan amount. Annual MIP runs for life if down payment is under 10%.

Question 8

Can a VA borrower buy in Fremont with zero down?

Accepted Answer

Yes. VA loans allow zero down for eligible veterans and active-duty service members. You'll pay a funding fee instead of PMI. The first-time funding fee is 2.15% at zero down.

Question 9

What does the VA funding fee cover?

Accepted Answer

The VA funding fee replaces PMI and protects the lender. At zero down, the fee is 2.15% of the loan amount. A 10% or higher VA disability rating exempts you from the fee.

Question 10

Is USDA financing available in Fremont?

Accepted Answer

USDA loans require a rural property, and most of Fremont is urban. Check the USDA eligibility map for your specific address. If you qualify, USDA offers zero down with no PMI.

Question 11

How does the new transit-oriented housing law affect Fremont buyers?

Accepted Answer

California's SB 79 takes effect July 1, 2026, requiring denser housing near transit. This could increase supply in Fremont over time. More supply typically moderates price growth.

Question 12

What's the typical property tax rate in Fremont?

Accepted Answer

Alameda County property taxes run about 0.6% of assessed value annually. Proposition 13 caps increases at 2% per year. Your actual bill depends on local assessments.

Question 13

Do I need reserves in the bank to qualify for a jumbo loan?

Accepted Answer

Yes. Jumbo lenders typically require 6 to 12 months of housing expenses in reserves. Conventional loans usually ask for 2 months. Reserves show you can handle the payment.

Question 14

How long does it take to close a home purchase in Fremont?

Accepted Answer

Most closings take 30 to 45 days from offer acceptance. Appraisal, title search, and underwriting are the main time drivers. Cash offers close faster than financed purchases.

Question 15

What closing costs should I expect in Alameda County?

Accepted Answer

Closing costs typically run 2% to 5% of the loan amount. This includes appraisal, title insurance, escrow, and lender fees. Your loan officer can provide an itemized estimate within three business days.

Fremont mortgage questions answered