Question 1

What is the conforming loan limit in Contra Costa County for 2026?

Accepted Answer

The 2026 conforming limit is $1,249,125. Loans above this amount are jumbo loans and carry stricter requirements. Most Martinez buyers stay within conforming range.

Question 2

Is Contra Costa County an FHA high-cost area?

Accepted Answer

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

Question 3

Is Contra Costa County a VA high-cost area?

Accepted Answer

Yes. VA loans in Contra Costa are also subject to high-cost area rules. The VA loan limit for 2026 is $1,249,125.

Question 4

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

Accepted Answer

Down payment depends on the loan type. Conventional loans typically require 5% to 20% down. FHA requires 3.5% down with a 580+ credit score. VA and USDA offer zero-down options for eligible borrowers.

Question 5

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

Accepted Answer

Conventional loans typically require 620 or higher. FHA loans accept 580 or higher. VA and USDA have their own credit guidelines. Higher scores open better rates and terms.

Question 6

Does the East County Service Center project affect Martinez home values?

Accepted Answer

The $155 million East County Service Center in Brentwood improves regional infrastructure and job accessibility. Better services and transportation typically support stable property values in surrounding areas like Martinez.

Question 7

What is the median household income in Contra Costa County?

Accepted Answer

The median household income in Contra Costa County is $125,727. This figure helps determine USDA loan eligibility and income-based qualification limits for various programs.

Question 8

Can I get a zero-down loan in Martinez?

Accepted Answer

Yes. VA loans offer zero down for eligible veterans and active-duty service members. USDA loans offer zero down in eligible rural areas, subject to income limits set per household size.

Question 9

What is the difference between FHA and conventional loans?

Accepted Answer

FHA requires 3.5% down and allows lower credit scores. Conventional typically requires 5% to 20% down. FHA charges mortgage insurance for the life of the loan if down payment is under 10%.

Question 10

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

Accepted Answer

Yes. With 20% down (80% LTV), you skip PMI entirely. Below 20% down, PMI applies until you reach 78% LTV. PMI can be requested at 80% LTV.

Question 11

What is a jumbo loan and when do I need one in Martinez?

Accepted Answer

A jumbo loan exceeds the conforming limit of $1,249,125. Jumbo loans typically require 20% down, 700+ credit score, and six months of reserves. Rates usually run 0.125% to 0.5% above conforming.

Question 12

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

Accepted Answer

Most mortgages close in 30 to 45 days. The timeline depends on appraisal speed, document collection, and underwriting. Jumbo loans may take slightly longer due to additional review.

Question 13

What is the VA funding fee and can it be waived?

Accepted Answer

The VA funding fee is 2.15% at zero down on first use. It can be waived if you have a VA disability rating of 10% or higher. The fee rolls into the loan amount.

Question 14

Can I use USDA financing to buy in Martinez?

Accepted Answer

USDA loans are available only in eligible rural areas. Martinez is in an urban area, so USDA financing is not available here. Check FHA, VA, or conventional options instead.

Question 15

What property types qualify for FHA loans in Martinez?

Accepted Answer

FHA loans cover single-family homes, condos, townhouses, and multi-unit properties up to four units. The property must be your primary residence and meet FHA safety and property standards.

Mortgage questions from Martinez buyers, answered