Question 1

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

Accepted Answer

The 2026 conforming limit is $1,249,125. Loans above that amount are jumbo loans and typically require 20% down and higher credit scores.

Question 2

Is Los Angeles County an FHA high-cost area?

Accepted Answer

Yes. Los Angeles County is designated an FHA high-cost area. 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. VA loan limits in Los Angeles County reach $1,249,125 in 2026. Eligible veterans can finance up to that amount with zero down.

Question 4

How much do I need to put down on a conventional loan in Calabasas?

Accepted Answer

Conventional loans typically require 5% to 20% down. At 20% down or more, you avoid PMI entirely. Below 20%, PMI applies until you reach 78% LTV.

Question 5

What credit score do I need to qualify for a conventional loan?

Accepted Answer

Most lenders require a minimum FICO of 620 for conventional loans. A score of 680 or higher improves your rate and approval odds.

Question 6

Do I need 20% down to avoid PMI on a conventional loan?

Accepted Answer

Yes. At 20% down (80% LTV), PMI is not required. Below that, mortgage insurance applies until your LTV reaches 78%.

Question 7

What is the minimum down payment for an FHA loan?

Accepted Answer

FHA loans require a minimum 3.5% down payment with a FICO score of 580 or higher. Upfront mortgage insurance is 1.75% of the loan amount.

Question 8

How long does FHA mortgage insurance last?

Accepted Answer

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

Question 9

Can a veteran with a VA disability rating avoid the funding fee?

Accepted Answer

Yes. Veterans with a VA disability rating of 10% or higher are exempt from the VA funding fee. Other eligible borrowers pay the funding fee.

Question 10

What is the VA funding fee on a zero-down loan?

Accepted Answer

The VA funding fee is 2.15% of the loan amount on a first-time zero-down purchase. Subsequent VA loans carry a 3.3% funding fee.

Question 11

How does LAUSD's fiscal situation affect buying in Calabasas?

Accepted Answer

LAUSD's budget challenges concern some buyers. Calabasas residents often use private schools or nearby districts, so the impact on property values is limited.

Question 12

What income do I need to qualify for a loan in Calabasas?

Accepted Answer

Income requirements depend on the loan amount and debt-to-income ratio, typically capped at 43% to 50%. Los Angeles County median household income is $87,760.

Question 13

How long does it take to close on a home in Calabasas?

Accepted Answer

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

Question 14

What is a VA Streamline refinance?

Accepted Answer

A VA Streamline (IRRRL) is a streamlined refinance for VA borrowers. It requires minimal documentation and can close faster than a standard refinance.

Calabasas mortgage questions answered