Question 1

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

Accepted Answer

The 2026 conforming limit is $1,249,125. FHA and VA loans in this county also top out at $1,249,125 for 2026.

Question 2

Do I need 20% down to buy in Walnut Creek?

Accepted Answer

Yes — 20% down avoids PMI on conventional loans. Conventional loans accept 5% down with PMI. FHA allows 3.5% down with a 580+ FICO score.

Question 3

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

Accepted Answer

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

Question 4

Is Walnut Creek an FHA high-cost area?

Accepted Answer

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

Question 5

Is Walnut Creek a VA high-cost area?

Accepted Answer

Yes. VA loans in Contra Costa County follow high-cost area rules for 2026. The VA loan limit here is $1,249,125.

Question 6

How much does PMI cost on a conventional loan in Walnut Creek?

Accepted Answer

PMI typically runs 0.5% to 1.5% annually on the loan amount. It cancels automatically at 78% LTV and can be requested at 80% LTV.

Question 7

What does the new East County Service Center mean for Walnut Creek homebuyers?

Accepted Answer

The $155 million East County Service Center in Brentwood improves access to county services. Better local services support property values and quality of life.

Question 8

Can I get an FHA loan above the conforming limit in Walnut Creek?

Accepted Answer

No. FHA loans in Walnut Creek max out at $1,249,125 for 2026. Purchases above that limit require conventional or jumbo financing.

Question 9

What is the income requirement to qualify for a mortgage in Walnut Creek?

Accepted Answer

There is no hard income floor for conventional or FHA loans. Lenders use debt-to-income ratios instead. Most want housing payment below 28% of gross income.

Question 10

Do VA loans require a funding fee in Walnut Creek?

Accepted Answer

Yes. VA loans charge a funding fee instead of PMI. First-time use is 2.15% at zero down. Veterans with a 10%+ disability rating are exempt.

Question 11

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

Accepted Answer

FHA requires 3.5% down minimum and charges mortgage insurance for life if under 10% down. VA allows zero down with a one-time funding fee and no PMI.

Question 12

Can I refinance my Walnut Creek mortgage later?

Accepted Answer

Yes. FHA borrowers can use an FHA Streamline refinance with minimal documentation. VA borrowers can use a VA Streamline (IRRRL) to lower their rate.

Question 13

How long does it take to close on a Walnut Creek home?

Accepted Answer

Typical closing takes 30 to 45 days from offer to funding. FHA and VA loans may take slightly longer due to appraisal requirements.

Question 14

What closing costs should I expect in Walnut Creek?

Accepted Answer

Closing costs typically range from 2% to 5% of the loan amount. FHA loans include an upfront mortgage insurance premium of 1.75%.

Walnut Creek mortgage questions answered