Question 1

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

Accepted Answer

The 2026 conforming loan limit is $1,249,125. Loans above this amount are jumbo loans. FHA and VA limits match this ceiling in Los Angeles County.

Question 2

Can I get an FHA loan in Commerce?

Accepted Answer

Yes. FHA loans are available in Los Angeles County. The 2026 FHA limit is $1,249,125. You'll need a 580+ FICO score and 3.5% down minimum.

Question 3

Is Los Angeles County an FHA high-cost area?

Accepted Answer

Yes. Los Angeles County is designated an FHA high-cost area. This means FHA loan limits are higher than the national baseline. The 2026 limit here is $1,249,125.

Question 4

Can I use a VA loan to buy in Commerce?

Accepted Answer

Yes. VA loans are available in Los Angeles County. The 2026 VA limit is $1,249,125. Eligible veterans, active duty, and surviving spouses can use zero-down financing.

Question 5

Is Los Angeles County a VA high-cost area?

Accepted Answer

Yes. Los Angeles County is a VA high-cost area. VA loan limits are higher here than in most counties. The 2026 limit is $1,249,125.

Question 6

What credit score do I need for a conventional loan?

Accepted Answer

Conventional loans typically require 620+ FICO. Most lenders prefer 640+. Stronger scores (680+) qualify for better rates. Your specific score affects your approval and pricing.

Question 7

How much down payment do I need to avoid PMI?

Accepted Answer

Yes—20% down eliminates PMI on conventional loans. Below 20%, PMI applies. At 80% LTV or higher, you skip mortgage insurance entirely.

Question 8

How does LAUSD's budget situation affect Commerce home values?

Accepted Answer

LAUSD's fiscal pressures may influence buyer demand in school-dependent neighborhoods. Properties in Commerce appeal to investors and buyers focused on equity growth. Budget uncertainty doesn't eliminate the market, but it shapes buyer priorities.

Question 9

What does the median household income in Los Angeles County tell me about affordability?

Accepted Answer

Los Angeles County's median household income is $87,760. This income level typically qualifies for conventional loans in the $350,000 to $450,000 range. Your actual qualification depends on debt, employment, and down payment.

Question 10

Can I buy in Commerce while still owning another home?

Accepted Answer

Yes. If you have equity and income to support two mortgages, you can carry both. Lenders typically want 28% debt-to-income on the new loan. Your current home's equity strengthens your position.

Question 11

What is the difference between FHA and VA loans in Los Angeles County?

Accepted Answer

Both FHA and VA cap at $1,249,125 in 2026. VA offers zero down; FHA requires 3.5% minimum. VA has no mortgage insurance; FHA charges MIP for the loan life if down payment is under 10%.

Question 12

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

Accepted Answer

Conventional closings typically take 30 to 45 days. FHA and VA can take 45 to 60 days due to appraisal and inspection requirements. Your lender's timeline depends on document collection speed.

Question 13

What closing costs should I expect?

Accepted Answer

Closing costs typically run 2% to 5% of the loan amount. This includes appraisal, title, underwriting, and escrow fees. Your lender will provide a detailed estimate within three days of application.

Question 14

Can I lock my interest rate?

Accepted Answer

Yes. Rate locks are standard. Most lenders offer 30, 45, or 60-day locks. Longer locks may cost slightly more. Your lock protects you if rates rise during processing.

Question 15

What does the entertainment industry merger mean for Commerce job stability?

Accepted Answer

The Paramount-Skydance merger may affect some local jobs in production and related sectors. Commerce's economy is diverse beyond entertainment. Job stability depends on your specific industry and employer.

Mortgage questions from Commerce, CA buyers