Question 1

What's 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 and carry different terms.

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. This affects your upfront mortgage insurance premium.

Question 3

Is Los Angeles County a VA high-cost area?

Accepted Answer

Yes. Los Angeles County qualifies as a VA high-cost area. The VA funding fee is calculated at the higher rate.

Question 4

How much do I need to put down to buy in Walnut?

Accepted Answer

Conventional loans typically require 5% to 20% down. FHA requires 3.5% minimum with a 580+ credit score.

Question 5

What credit score do I need for an FHA loan?

Accepted Answer

FHA requires a minimum 580 FICO score for a 3.5% down loan. A 640+ score opens more options and better rates.

Question 6

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

Accepted Answer

Yes. At 20% down (80% LTV), you skip PMI entirely. Below 20% down, PMI applies until you reach 78% LTV.

Question 7

How long does it take to close a mortgage in Walnut?

Accepted Answer

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

Question 8

What's the typical property tax rate in Los Angeles County?

Accepted Answer

Los Angeles County property taxes average around 0.76% of assessed value annually. Proposition 13 caps increases at 2% per year.

Question 9

Can I get a VA loan if I'm a surviving spouse?

Accepted Answer

Yes. Surviving spouses of service members who died on active duty can use VA benefits. You'll need a Certificate of Eligibility.

Question 10

What's the VA funding fee and can it be waived?

Accepted Answer

The VA funding fee is 2.15% of the loan amount on first use with zero down. It's waived only with a 10% or higher VA disability rating.

Question 11

How does the LAUSD budget situation affect home values in Walnut?

Accepted Answer

School funding uncertainty can influence buyer demand and property values over time. Families may factor budget stability into their purchase decision.

Question 12

What income do I need to qualify for a mortgage in Walnut?

Accepted Answer

Most lenders use a debt-to-income ratio of 43% to 50%. On the Los Angeles County median income of $87,760, you'd typically qualify for around $350,000 to $400,000.

Question 13

What's the difference between FHA and VA loans?

Accepted Answer

FHA requires a down payment (3.5% minimum) and charges mortgage insurance for the loan's life. VA allows zero down with no PMI, but charges a funding fee.

Question 14

Can I refinance an FHA loan to conventional later?

Accepted Answer

Yes. Once you build equity to 20% down (80% LTV), you can refinance to conventional. This typically happens after 5 to 10 years.

Question 15

What closing costs should I expect in Walnut?

Accepted Answer

Closing costs typically run 2% to 5% of the loan amount. This includes appraisal, title, escrow, and lender fees.

Walnut home loan questions answered