Question 1

What is the conforming loan limit in Los Angeles County for 2026?

Accepted Answer

The 2026 conforming limit for Los Angeles County is $1,249,125. Loans above this amount are considered jumbo and carry different rates and terms.

Question 2

Is Los Angeles County an FHA high-cost area?

Accepted Answer

Yes. Los Angeles County is designated an FHA high-cost area, which means FHA loan limits match the conforming limit of $1,249,125 for 2026.

Question 3

Is Los Angeles County a VA high-cost area?

Accepted Answer

Yes. Los Angeles County qualifies as a VA high-cost area, so VA loan limits also reach $1,249,125 in 2026.

Question 4

How does the LAUSD fiscal situation affect Burbank home values?

Accepted Answer

LAUSD's fiscal oversight and potential insolvency risk may create uncertainty for families with school-age children. This could influence buyer demand and negotiating power in Burbank neighborhoods.

Question 5

What down payment options are typical for conventional loans in Burbank?

Accepted Answer

Conventional buyers typically put 5% to 20% down. Putting down 20% or more avoids PMI entirely. Lower down payments require mortgage insurance.

Question 6

Do I need a perfect credit score to qualify for a mortgage in Burbank?

Accepted Answer

No. Most lenders accept credit scores in the 620–640 range for FHA loans and 680+ for conventional. Higher scores open better rates and terms.

Question 7

What does PMI cost on a conventional loan?

Accepted Answer

PMI typically runs 0.5% to 1% of the loan amount annually. The exact cost depends on your down payment, credit score, and loan amount.

Question 8

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

Accepted Answer

Yes. VA loans allow zero-down purchases for eligible veterans, active duty, and surviving spouses with a Certificate of Eligibility.

Question 9

What is the VA funding fee?

Accepted Answer

The VA funding fee is 2.15% of the loan amount on a first-time use with zero down. Subsequent uses cost 3.3%. Veterans with a 10% or higher disability rating are exempt.

Question 10

Does FHA mortgage insurance ever go away?

Accepted Answer

Yes. If you put down 10% or more, FHA mortgage insurance cancels after 11 years. With less than 10% down, it runs for the life of the loan.

Question 11

What is the FHA upfront mortgage insurance premium?

Accepted Answer

FHA charges 1.75% of the loan amount as an upfront mortgage insurance premium, which is typically rolled into the loan.

Question 12

How does the studio merger affect Burbank's job market?

Accepted Answer

LA County estimates approximately 2,495 positions could be affected by the Paramount-Skydance merger. Job concentration in entertainment may create uncertainty for some Burbank households.

Question 13

What income do I need to qualify for a mortgage in Burbank?

Accepted Answer

Most lenders use a debt-to-income ratio of 43% to 50%. With Los Angeles County's median household income at $87,760, typical qualifying income ranges from $60,000 to $100,000+.

Question 14

What is the difference between a jumbo loan and a conforming loan?

Accepted Answer

Jumbo loans exceed the $1,249,125 conforming limit. They typically require 20% down, 700+ credit score, and 6–12 months of reserves. Rates usually run 0.125% to 0.5% higher.

Question 15

Can I refinance my FHA loan later?

Accepted Answer

Yes. FHA loans can be refinanced into conventional loans once you build equity and meet credit requirements. An FHA Streamline refinance also allows faster refinancing with minimal documentation.

Burbank mortgage questions answered