Question 1

What's the conforming loan limit in Los Angeles County?

Accepted Answer

The 2026 conforming limit is $1,249,125. Loans above that amount require jumbo financing, which carries a higher rate and stricter terms. Most Inglewood buyers stay within conforming range.

Question 2

Is Los Angeles County an FHA high-cost area?

Accepted Answer

Yes. Los Angeles County is designated a high-cost area for FHA loans. That means FHA loan limits match the conforming ceiling at $1,249,125, not the standard FHA cap in lower-cost counties.

Question 3

Is Los Angeles County a VA high-cost area?

Accepted Answer

Yes. VA loan limits in Los Angeles County also reach $1,249,125. VA buyers can finance up to that amount with zero down, no PMI, and no funding-fee cap.

Question 4

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%, PMI applies. FHA requires 3.5% down but charges mortgage insurance for the life of the loan. VA requires zero down and no PMI.

Question 5

What credit score do I need to qualify?

Accepted Answer

Conventional loans typically require a 620 FICO minimum, though 640 or higher gets better rates. FHA accepts 580 FICO with 3.5% down. VA has no stated minimum but lenders usually want 580 or above.

Question 6

How much income do I need to buy in Inglewood?

Accepted Answer

Los Angeles County's median household income is $87,760. Most lenders use a 43% debt-to-income ratio, so $87,760 income typically supports a $450,000 to $500,000 loan. Your actual number depends on existing debts.

Question 7

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

Accepted Answer

Yes. VA loans allow zero down on purchases up to $1,249,125 in Los Angeles County. You'll pay a funding fee (typically 2.3% for first-time use) rolled into the loan, but no down payment is required.

Question 8

What's the difference between FHA and conventional in this county?

Accepted Answer

FHA requires 3.5% down and charges mortgage insurance for the loan's life. Conventional requires 5% to 20% down and PMI drops off at 20% equity. Both cap at $1,249,125 here, so the choice hinges on down payment and long-term cost.

Question 9

Do I need to sell my current home first to buy in Inglewood?

Accepted Answer

Not required, but significant equity in your current home strengthens your application. Lenders will count that equity toward your down payment. If you're selling, a contingency clause protects you until closing.

Question 10

How long does closing take in Inglewood?

Accepted Answer

Conventional loans typically close in 30 to 45 days. FHA and VA can take 45 to 60 days due to appraisal and inspection requirements. Inglewood's market pace doesn't materially change these timelines.

Question 11

What are typical closing costs in Los Angeles County?

Accepted Answer

Closing costs run 2% to 5% of the loan amount. On a $500,000 loan, expect $10,000 to $25,000. Seller concessions can cover some or all of these costs if you negotiate them into the purchase agreement.

Question 12

Can I refinance an FHA loan to conventional later?

Accepted Answer

Yes. Once you reach 20% equity, you can refinance FHA to conventional and drop mortgage insurance. In a rising market, that equity builds faster. Refinancing costs apply, so compare the savings to the upfront expense.

Question 13

What property types qualify for loans in Inglewood?

Accepted Answer

Single-family homes, condos, and townhouses all qualify. Condos require FHA or conventional approval of the project. Investment properties and multi-unit buildings have stricter requirements and higher rates.

Question 14

Do I need a perfect credit score to qualify?

Accepted Answer

No. Lenders approve loans with credit scores as low as 580 FHA or 620 conventional. Lower scores mean higher rates. Most Inglewood buyers fall in the 650 to 750 range, which qualifies for competitive pricing.

Question 15

What happens if my income is below the county median?

Accepted Answer

Below-median income doesn't disqualify you. Lenders focus on debt-to-income ratio, not absolute income. A $50,000 earner with minimal debt may qualify for a $200,000 loan. A $100,000 earner with high debts may not.

Inglewood mortgage FAQ for home buyers