Question 1

What is the conforming loan limit in Fresno County for 2026?

Accepted Answer

The 2026 conforming limit is $832,750. Loans above that require jumbo financing with 20% down and a higher credit score.

Question 2

Can I get an FHA loan in Selma?

Accepted Answer

Yes. FHA loans require 3.5% down minimum and 580+ FICO. The 2026 FHA limit here is $541,287.

Question 3

Is Fresno County an FHA high-cost area?

Accepted Answer

No. Fresno County is not designated a high-cost area. Standard FHA rules apply without premium pricing adjustments.

Question 4

Can I use a VA loan in Selma if I'm a veteran?

Accepted Answer

Yes. VA loans are available to eligible veterans and surviving spouses with a Certificate of Eligibility. The 2026 VA limit is $832,750.

Question 5

Is Fresno County a VA high-cost area?

Accepted Answer

No. Fresno County is not a VA high-cost area. Standard VA funding fees and rates apply without adjustments.

Question 6

What credit score do I need for a conventional loan?

Accepted Answer

Most lenders require 620+ FICO for conventional loans. Stronger credit (740+) typically opens better rates and lower down-payment options.

Question 7

How much down payment avoids PMI on a conventional loan?

Accepted Answer

20% down skips PMI entirely. With less than 20% down, PMI applies until you reach 78% LTV, then cancels automatically.

Question 8

How does Fresno County median income affect my loan approval?

Accepted Answer

Lenders use income to calculate debt-to-income ratios. At $71,434 county median, most buyers here qualify for conventional loans without income-based restrictions.

Question 9

What's the difference between FHA and conventional financing?

Accepted Answer

FHA requires 3.5% down and allows lower credit scores. Conventional at 20% down avoids PMI entirely but demands stronger credit.

Question 10

Can I get a jumbo loan in Selma for homes above $832,750?

Accepted Answer

Yes. Jumbo loans require 20% down, 700+ FICO, and 6-12 months of reserves. Rates typically run higher than conforming.

Question 11

How long does closing take in Fresno County?

Accepted Answer

Conventional loans close in 30-45 days. FHA and VA loans often take 45-60 days due to additional appraisal steps.

Question 12

What does Tower District growth mean for Selma's housing market?

Accepted Answer

Tower District's expansion with Porchfest and new restaurants increases regional appeal. This activity supports steady demand for nearby Selma homes.

Question 13

Do I need to sell my current home before buying in Selma?

Accepted Answer

No. Many buyers carry two mortgages temporarily or use bridge financing. Lenders evaluate your total debt-to-income ratio.

Question 14

What closing costs should I expect in Fresno County?

Accepted Answer

Closing costs typically run 2-5% of the loan amount. This covers appraisal, title, underwriting, and recording fees.

Selma mortgage questions answered