Question 1

What's the 2026 conforming loan limit in Contra Costa County?

Accepted Answer

The 2026 conforming limit is $1,249,125. Loans above this amount are jumbo loans. Danville properties under this limit qualify for conventional, FHA, and VA programs.

Question 2

How much down payment do I need to buy in Danville?

Accepted Answer

Conventional loans require 3% to 5% minimum down. FHA allows 3.5% down with a 580+ FICO score. VA loans offer zero-down for eligible veterans.

Question 3

What credit score do I need to qualify for a mortgage in Danville?

Accepted Answer

Conventional loans typically require 620+ FICO. FHA accepts 580+ FICO with 3.5% down. VA loans have no strict minimum but lenders usually prefer 620+.

Question 4

Is Contra Costa County an FHA high-cost area?

Accepted Answer

Yes. Contra Costa is designated an FHA high-cost area. FHA loan limits match the conforming limit of $1,249,125 in 2026.

Question 5

Is Contra Costa County a VA high-cost area?

Accepted Answer

Yes. Contra Costa is a VA high-cost area. VA loan limits also reach $1,249,125 in 2026.

Question 6

Can I carry two mortgages while buying in Danville?

Accepted Answer

Yes. You can carry two mortgages if your income qualifies. Lenders will count both payments in your debt-to-income ratio.

Question 7

How does PMI work on a conventional loan in Danville?

Accepted Answer

PMI is required when you put down less than 20%. PMI cancels automatically at 78% LTV. You can request cancellation at 80% LTV once you've paid down principal.

Question 8

What's the difference between FHA and conventional for Danville buyers?

Accepted Answer

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

Question 9

Can I get a VA loan with zero down in Danville?

Accepted Answer

Yes, if you're an eligible veteran, active duty, or surviving spouse with a Certificate of Eligibility. VA loans have no down payment requirement. A funding fee applies unless you have a 10%+ VA disability rating.

Question 10

What income do I need to qualify for a mortgage in Danville?

Accepted Answer

There's no fixed income requirement, but lenders use debt-to-income ratios. Most want your housing payment below 28% of gross income. Contra Costa's median household income is $125,727.

Question 11

How long does it take to close a mortgage in Danville?

Accepted Answer

Conventional loans typically close in 30 to 45 days. FHA can take 35 to 50 days due to appraisal requirements. VA loans run 40 to 60 days.

Question 12

What happens if my home appraises below the purchase price?

Accepted Answer

If the appraisal is low, you either renegotiate the price or increase your down payment. The lender won't finance more than the appraised value.

Question 13

Can I refinance my FHA loan to conventional later?

Accepted Answer

Yes. Once you've built equity and your credit improves, you can refinance FHA to conventional. You'll need at least 20% equity to avoid PMI on the new loan.

Danville mortgage FAQ for Contra Costa County buyers