Question 1

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

Accepted Answer

The 2026 conforming limit is $1,249,125. This applies to conventional, FHA, and VA loans. Loans above this amount require jumbo financing.

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 ceiling at $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. VA loan limits reach $1,249,125 in 2026.

Question 4

How does the LAUSD fiscal crisis affect Inglewood home values?

Accepted Answer

LAUSD's budget pressures may concern families with school-age children. Property values in strong school zones often hold steady. Check individual school ratings before deciding.

Question 5

What credit score do I need for a conventional loan?

Accepted Answer

Most lenders require 620 FICO or higher for conventional loans. Scores of 740+ typically qualify for better rates. Ask your lender for their specific minimum.

Question 6

How much down payment do I need to avoid PMI?

Accepted Answer

Yes — 20% down eliminates PMI on a conventional loan. Below 20% down, PMI applies until you reach 78% LTV. At 80% LTV, you can request PMI removal.

Question 7

Can I get a VA loan with zero down?

Accepted Answer

Yes. VA loans allow zero-down financing for eligible veterans and active-duty service members. You'll pay a funding fee instead of PMI. The fee is 2.15% at zero down for first-time use.

Question 8

What is the FHA minimum down payment?

Accepted Answer

FHA requires 3.5% down with a 580+ FICO score. The upfront mortgage insurance premium is 1.75% of the loan amount. Annual MIP continues for the life of the loan if down payment is under 10%.

Question 9

Do I need to sell my current home before buying?

Accepted Answer

Yes — you can carry two mortgages if you qualify on income and debt ratios. Lenders want to see sufficient reserves and stable employment. Strong income relative to the county median helps approval.

Question 10

How long does closing take in Inglewood?

Accepted Answer

Most conventional loans close in 30 to 45 days. FHA and VA loans may take 45 to 60 days. Your lender can provide a specific timeline once you're under contract.

Question 11

What happens if the studio merger affects my job?

Accepted Answer

Job loss can impact your ability to refinance or qualify for a new loan. Lenders verify current employment before closing. Discuss income changes with your lender early in the process.

Question 12

Can I use a co-signer for a jumbo loan?

Accepted Answer

Yes. Jumbo lenders often accept co-signers to strengthen the application. The co-signer's income and credit are factored in. Expect stricter requirements — typically 700+ FICO and 20% down.

Question 13

What is a VA Streamline refinance?

Accepted Answer

VA Streamline (IRRRL) requires no appraisal and minimal documentation. A standard VA refinance involves full underwriting. Streamline is faster and cheaper if you're refinancing an existing VA loan.

Question 14

How does property tax affect my monthly payment?

Accepted Answer

Inglewood property taxes run roughly 0.76% of assessed value annually. This is rolled into your escrow payment each month. The exact amount depends on your purchase price.

Inglewood mortgage FAQ for 2026 buyers