Question 1

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

Accepted Answer

The 2026 conforming limit is $832,750. Loans above that amount are jumbo and carry different rates and requirements. Most Calexico buyers stay below this ceiling.

Question 2

Is Imperial County an FHA high-cost area?

Accepted Answer

No. Imperial County is not designated a high-cost area, so FHA's standard 3.5% down-payment rule applies. The 2026 FHA limit here is $541,287.

Question 3

Can I get a VA loan with zero down in Calexico?

Accepted Answer

Yes. VA loans allow zero down on purchases up to the 2026 VA limit of $832,750 in Imperial County. No funding fee is required if you're eligible and the sale price stays within that cap.

Question 4

What credit score do I need to qualify?

Accepted Answer

Most conventional lenders want 620 or higher. FHA accepts 580 with 3.5% down. VA has no official minimum, but lenders typically require 620. Calexico buyers with scores below 640 should expect tighter terms.

Question 5

How much down payment do I need to avoid PMI?

Accepted Answer

Yes—20% down is the only way to skip PMI on a conventional loan. Below 20%, mortgage insurance applies. FHA buyers put 3.5% down and pay mortgage insurance for the life of the loan.

Question 6

What's the median home price in Calexico right now?

Accepted Answer

Calexico prices vary widely by neighborhood. With the county median household income at $56,393, most buyers here qualify for homes in the $250,000 to $450,000 range. Your actual approval depends on debt and down payment.

Question 7

How long does closing take in Imperial County?

Accepted Answer

Standard closings take 30 to 45 days from application to funding. Calexico transactions sometimes move faster if the property is straightforward and you're pre-approved. Cash offers close in 7 to 14 days.

Question 8

Do I need to be a first-time buyer to qualify for FHA?

Accepted Answer

No. FHA is open to all buyers, not just first-timers. The 3.5% down requirement and mortgage insurance make it popular with repeat buyers who want to preserve cash for other needs.

Question 9

What happens if my income is below the county median?

Accepted Answer

Income below $56,393 doesn't disqualify you. Lenders use debt-to-income ratio, not median income, to approve loans. A lower income with minimal debt can still qualify. A higher income with heavy debt may not.

Question 10

Can I use a co-signer if my credit is weak?

Accepted Answer

Yes. A co-signer with strong credit and income can help you qualify. The co-signer's debt counts toward the combined debt-to-income ratio, so their financial health matters as much as yours.

Question 11

How does the Salton Sea proximity affect property values in Calexico?

Accepted Answer

Properties closer to the Salton Sea may carry lower values due to air quality concerns. Recent studies show slower lung function growth in children living near it. This can affect appraisals and insurance rates.

Question 12

Is a jumbo loan the right choice above the conforming limit?

Accepted Answer

Jumbo loans above $832,750 require 10% to 20% down and stronger credit. Rates are typically higher than conforming. In Calexico's market, few buyers exceed the conforming limit, so jumbo is rare here.

Question 13

Can I lock my rate before I find a home?

Accepted Answer

Yes. Rate locks typically last 30 to 60 days. Locking early protects you if rates rise while you're shopping. If rates fall, you may be able to float down depending on your lender's policy.

Question 14

What closing costs should I expect?

Accepted Answer

Closing costs run 2% to 5% of the loan amount. On a $400,000 purchase, plan for $8,000 to $20,000 in fees. Your lender will provide a detailed estimate within three days of application.

Calexico mortgage questions answered