Question 1

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

Accepted Answer

The 2026 conforming limit is $1,249,125. Loans above this amount are jumbo loans. FHA and VA loans also max out at $1,249,125 here.

Question 2

Do I need 20% down to avoid PMI on a conventional loan?

Accepted Answer

Yes — 20% down (80% LTV) eliminates PMI entirely. Below 20% down, PMI applies. PMI cancels automatically at 78% LTV.

Question 3

What credit score do I need for an FHA loan?

Accepted Answer

FHA requires a minimum 580 FICO score for the 3.5% down program. Some lenders may require 620 or higher for better terms.

Question 4

How much down payment does FHA require?

Accepted Answer

FHA allows 3.5% down with a 580+ FICO score. Upfront mortgage insurance is 1.75% of the loan amount. Annual MIP runs for life if down payment is under 10%.

Question 5

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 limit of $1,249,125.

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. A funding fee replaces PMI.

Question 7

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 here reach $1,249,125, matching the conforming ceiling.

Question 8

What is the VA funding fee?

Accepted Answer

The funding fee is 2.15% of the loan amount at zero down for first-time VA users. It rolls into the loan. A 10%+ VA disability rating exempts you entirely.

Question 9

How long does closing take in Pomona?

Accepted Answer

Typical closing timelines run 30 to 45 days from application to funding. Jumbo loans may take longer. Appraisal turnaround affects the schedule.

Question 10

What does LAUSD's fiscal oversight mean for Pomona buyers?

Accepted Answer

LAUSD's heightened fiscal oversight reflects budget concerns at the district level. School funding stability can influence buyer demand and neighborhood appeal.

Question 11

Do I need to sell my current home before buying?

Accepted Answer

No — you can buy before selling if you have enough reserves and income to qualify for both mortgages. Lenders typically want 6 to 12 months of reserves.

Question 12

What income do I need to qualify for a mortgage?

Accepted Answer

Income requirements depend on loan amount, down payment, and debt-to-income ratio. Los Angeles County's median is $87,760. Lenders typically cap debt-to-income at 43% to 50%.

Question 13

Can I use a gift for my down payment?

Accepted Answer

Yes — most lenders allow gift funds from family members. You'll need a signed gift letter stating the money is a gift, not a loan.

Question 14

What happens if I put down less than 5% on a conventional loan?

Accepted Answer

Conventional loans below 5% down are rare and carry higher rates. FHA's 3.5% down option is usually cheaper and more accessible for lower down payments.

Question 15

Does PMI ever go away on a conventional loan?

Accepted Answer

Yes — PMI cancels automatically at 78% LTV and can be requested at 80% LTV. Once you reach either threshold, you can request removal.

Pomona mortgage questions answered