Question 1

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

Accepted Answer

The 2026 conforming limit is $1,249,125. Any loan above that is jumbo and requires different terms.

Question 2

Do I need 20% down to buy in La Verne?

Accepted Answer

Yes — conventional loans work with 3% to 5% down, though PMI applies. FHA allows 3.5% down with 580+ FICO. VA buyers can put zero down.

Question 3

What credit score do I need for a conventional loan?

Accepted Answer

Most lenders want 620+ FICO for conventional loans. FHA accepts 580+ FICO with 3.5% down.

Question 4

Is Los Angeles County an FHA high-cost area?

Accepted Answer

Yes. FHA loan limits here match the conforming ceiling at $1,249,125 for 2026.

Question 5

Is Los Angeles County a VA high-cost area?

Accepted Answer

Yes. VA loan limits in this county reach $1,249,125 for 2026. Zero-down VA loans are available up to that cap.

Question 6

What does PMI cost on a conventional loan?

Accepted Answer

PMI typically runs 0.5% to 1.5% of the loan amount annually. It cancels automatically at 78% LTV or on request at 80% LTV.

Question 7

How long does FHA mortgage insurance last?

Accepted Answer

If you put down less than 10%, FHA MIP stays for the life of the loan. With 10%+ down, it cancels after 11 years.

Question 8

Do VA loans have a funding fee?

Accepted Answer

Yes. The funding fee replaces PMI on VA loans. At zero down, it's 2.15% of the loan amount. A 10%+ VA disability rating exempts you.

Question 9

What is USDA financing and do I qualify?

Accepted Answer

USDA loans offer zero-down in eligible rural areas with income limits set per household size. La Verne's proximity to urban Los Angeles may limit eligibility.

Question 10

How much can I borrow as a jumbo loan in La Verne?

Accepted Answer

Jumbo loans start above $1,249,125. Lenders typically require 20% down, 700+ FICO, and 6-12 months of reserves.

Question 11

How does LAUSD's fiscal oversight affect my home purchase?

Accepted Answer

LAUSD is under heightened county oversight due to budget concerns. This may influence school choice and property values in some neighborhoods.

Question 12

What's the typical timeline from offer to closing?

Accepted Answer

Most conventional loans close in 30 to 45 days. FHA and VA can take 45 to 60 days due to appraisal requirements.

Question 13

Can I get a rate lock before I find a property?

Accepted Answer

Yes. Most lenders offer rate locks of 15 to 60 days. You'll pay a lock fee upfront, typically 0.25% to 0.5% of the loan amount.

Question 14

What closing costs should I expect?

Accepted Answer

Closing costs typically run 2% to 5% of the loan amount. Ask your lender for a Loan Estimate within three business days of application.

La Verne mortgage questions answered