Question 1

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

Accepted Answer

The conforming limit is $1,249,125 for 2026. FHA and VA loans also cap at $1,249,125 here.

Question 2

Do I need 20% down to buy in El Cerrito?

Accepted Answer

Yes — 20% down avoids PMI on conventional loans. You can put 3% to 5% down and carry PMI instead.

Question 3

What credit score do I need to qualify?

Accepted Answer

Conventional loans typically require 620+ FICO. FHA accepts 580+ FICO for 3.5% down.

Question 4

Is Contra Costa County an FHA high-cost area?

Accepted Answer

Yes. Contra Costa is designated FHA high-cost, which means FHA loan limits match the conforming ceiling of $1,249,125 for 2026.

Question 5

Is Contra Costa County a VA high-cost area?

Accepted Answer

Yes. VA loans in Contra Costa also max out at $1,249,125 in 2026. The VA funding fee still applies at zero down.

Question 6

How much does PMI cost on a conventional loan?

Accepted Answer

PMI typically runs 0.3% to 1.5% annually depending on down payment and credit. It cancels at 78% LTV automatically.

Question 7

What's the difference between FHA and VA loans?

Accepted Answer

FHA requires 3.5% down minimum and charges upfront MIP of 1.75%. VA allows zero down for eligible veterans and charges a funding fee instead.

Question 8

Do I need to sell my current home first?

Accepted Answer

No. Many buyers qualify for a new mortgage while still owning their current home. Lenders factor in the existing payment for debt-to-income.

Question 9

How long does closing take in El Cerrito?

Accepted Answer

Typical closing takes 30 to 45 days from application to funding. Jumbo loans may take 45 to 60 days.

Question 10

What does the East County Service Center project mean for El Cerrito?

Accepted Answer

The $155 million East County Service Center in Brentwood improves access to county services. Better infrastructure supports long-term property values.

Question 11

Can I get a jumbo loan in El Cerrito?

Accepted Answer

Yes. Jumbo loans above $1,249,125 typically require 20% down, 700+ FICO, and 6-12 months of reserves.

Question 12

What income do I need to qualify in Contra Costa?

Accepted Answer

There's no hard floor, but lenders use debt-to-income ratios capped at 43% to 50%. Contra Costa's median household income is $125,727.

Question 13

Does Contra Costa have property tax advantages?

Accepted Answer

California property taxes are capped at 1% of assessed value under Proposition 13. Reassessment happens only at ownership change.

Question 14

What's the difference between rate lock periods?

Accepted Answer

Rate locks typically run 30, 45, or 60 days. Longer locks cost more but protect you if rates rise.

El Cerrito mortgage questions answered