Question 1

What is the conforming loan limit in Palmdale for 2026?

Accepted Answer

The 2026 conforming loan limit in Los Angeles County is $1,249,125. Loans above that amount are jumbo and carry different terms.

Question 2

Is Palmdale an FHA high-cost area?

Accepted Answer

Yes. Palmdale is an FHA high-cost area in 2026. The FHA loan limit here matches the conforming limit of $1,249,125.

Question 3

Is Palmdale a VA high-cost area?

Accepted Answer

Yes. Palmdale qualifies as a VA high-cost area in 2026. The VA loan limit is $1,249,125.

Question 4

How much down do I need for a conventional loan?

Accepted Answer

Conventional loans typically require 3% to 5% down for first-time buyers. With 20% down, you skip PMI entirely. Less than 20% down means PMI applies.

Question 5

What credit score do I need to qualify?

Accepted Answer

Most conventional loans require a minimum FICO of 620. FHA loans accept 580 or higher. VA loans typically require 620, though some lenders go lower.

Question 6

Can I get a VA loan with zero down?

Accepted Answer

Yes. VA loans allow zero down for eligible veterans, active duty, and surviving spouses with a Certificate of Eligibility. The funding fee replaces PMI.

Question 7

What is the VA funding fee?

Accepted Answer

The VA funding fee is 2.15% of the loan amount on your first VA purchase with zero down. A VA disability rating of 10% or higher exempts you from this fee.

Question 8

Does FHA mortgage insurance last the entire loan?

Accepted Answer

FHA mortgage insurance depends on your down payment. With 10% or more down, MIP cancels after 11 years. With less than 10% down, MIP runs for the full term.

Question 9

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

Accepted Answer

Recent fiscal oversight of LAUSD may influence property values and buyer confidence. Check which school district your Palmdale home falls under before making an offer.

Question 10

What does LA County's median income mean for my qualification?

Accepted Answer

Los Angeles County's median household income is $87,760. Lenders use this to assess debt-to-income ratios and income qualification for programs like USDA.

Question 11

Can I buy above the conforming limit with a jumbo loan?

Accepted Answer

Yes. Jumbo loans cover purchases above $1,249,125. They typically require 20% down, higher credit, and proof of reserves. Rates usually run 0.125% to 0.5% above conforming.

Question 12

What is the difference between FHA and conventional loans?

Accepted Answer

FHA allows 3.5% down and accepts lower credit scores. Conventional requires more down and higher credit. Both have limits of $1,249,125 in Palmdale for 2026.

Question 13

How long does closing take?

Accepted Answer

Most mortgages close in 30 to 45 days. Jumbo loans and cash-out refinances may take longer. Your lender can provide a specific timeline.

Question 14

Are first-time buyer programs available in Palmdale?

Accepted Answer

California and Los Angeles County offer first-time buyer assistance. Down payment help, favorable rates, and closing cost grants may be available. Ask your lender about local programs.

Palmdale mortgage FAQ — answers to your home loan questions