Question 1

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

Accepted Answer

The 2026 conforming limit is $1,249,125. Loans at or below this amount qualify for conventional pricing. Anything above triggers jumbo rates.

Question 2

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 ceiling at $1,249,125 for 2026.

Question 3

Is Contra Costa County a VA high-cost area?

Accepted Answer

Yes. VA loans in Contra Costa County cap at the high-cost limit of $1,249,125 in 2026.

Question 4

How much do I need to put down to buy in Oakley?

Accepted Answer

Down payment depends on loan type. Conventional buyers typically put 5% to 20% down. FHA requires 3.5% minimum with a 580+ credit score.

Question 5

What credit score do I need for an FHA loan in Oakley?

Accepted Answer

FHA requires a minimum 580 FICO score to qualify. Scores above 620 often get better rates. Your approval also depends on income and debt.

Question 6

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

Accepted Answer

Yes. At 20% down (80% LTV), you skip PMI entirely. Below 20% down, PMI applies until you hit 78% LTV.

Question 7

How does the East County Service Center affect Oakley's market?

Accepted Answer

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

Question 8

What's the median household income in Contra Costa County?

Accepted Answer

Contra Costa County's median household income is $125,727. Lenders use this to assess debt-to-income ratios and qualifying ability.

Question 9

Can I get a jumbo loan in Oakley if I'm buying above the conforming limit?

Accepted Answer

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

Question 10

What's the difference between FHA and VA loans in Oakley?

Accepted Answer

FHA requires 3.5% down and charges mortgage insurance for the loan life if down payment is under 10%. VA offers zero down with no PMI but charges a funding fee instead.

Question 11

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

Accepted Answer

Most conventional closings take 30 to 45 days from application to funding. FHA and VA can take 45 to 60 days due to additional steps.

Question 12

What closing costs should I expect in Oakley?

Accepted Answer

Closing costs typically run 2% to 5% of the loan amount. This includes appraisal, title, escrow, and lender fees.

Question 13

Can I use a gift for my down payment in Oakley?

Accepted Answer

Yes. Most lenders allow down-payment gifts from family members. You'll need a gift letter stating the money is a gift, not a loan.

Oakley mortgage questions answered