Question 1

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

Accepted Answer

The 2026 conforming limit for Kings County is $832,750. Loans above that amount require jumbo financing, which typically demands a larger down payment and higher credit score.

Question 2

What is the FHA loan limit in Kings County?

Accepted Answer

The 2026 FHA limit in Kings County is $541,287. FHA loans allow as little as 3.5% down with a 580+ FICO score, making them accessible for first-time buyers in Corcoran.

Question 3

What is the VA loan limit in Kings County?

Accepted Answer

The 2026 VA limit in Kings County is $832,750. Eligible veterans and active-duty service members can borrow up to this amount with zero down and no PMI.

Question 4

Is Kings County an FHA high-cost area?

Accepted Answer

No. Kings County is not designated an FHA high-cost area, so standard FHA limits and rules apply to Corcoran purchases.

Question 5

Is Kings County a VA high-cost area?

Accepted Answer

No. Kings County is not a VA high-cost area, so standard VA loan terms and funding fees apply to eligible borrowers in Corcoran.

Question 6

How much down payment do I need to avoid PMI on a conventional loan?

Accepted Answer

Yes — 20% down eliminates PMI on a conventional loan. Below 20% down, PMI applies until you reach 78% LTV or request cancellation at 80% LTV.

Question 7

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

Accepted Answer

FHA requires a minimum 580 FICO score to qualify. A score of 620 or higher improves your rate and terms, but 580 is the floor for FHA approval.

Question 8

How does the affordable housing growth in Kings County affect Corcoran buyers?

Accepted Answer

New affordable housing projects like Mills Ranch Apartments in nearby King City signal increased development. This can expand the rental market and influence long-term property values in Corcoran.

Question 9

What is the upfront cost of FHA mortgage insurance?

Accepted Answer

FHA charges 1.75% upfront mortgage insurance (MIP) on the loan amount. This is rolled into the loan, so you don't pay it at closing but it increases your total borrowing cost.

Question 10

How long does FHA mortgage insurance last?

Accepted Answer

If you put down less than 10%, FHA MIP lasts the life of the loan. With 10% or more down, MIP cancels after 11 years of payments.

Question 11

Do VA loans require a down payment?

Accepted Answer

No. VA loans allow zero down for eligible borrowers. Instead of PMI, VA charges a funding fee (2.15% at zero down for first-time use).

Question 12

Can I get a VA funding fee waiver?

Accepted Answer

Yes — a VA disability rating of 10% or higher qualifies you for a funding fee exemption. Without that rating, the funding fee applies to all VA loans.

Question 13

What does the Kings County median income tell me about qualifying?

Accepted Answer

Kings County's median household income is $68,750. This benchmark helps lenders assess whether your income supports the purchase price you're targeting in Corcoran.

Question 14

What happens if I want to buy above the conforming limit in Corcoran?

Accepted Answer

Loans above $832,750 require jumbo financing. Jumbo loans typically need 20% down, a 700+ FICO score, and six months of reserves in the bank.

Corcoran home loan questions answered