Question 1

What's the conforming loan limit in Marin County for 2026?

Accepted Answer

The 2026 conforming limit is $1,249,125. FHA and VA loans also cap at that amount. Purchases above it require jumbo financing, which typically demands 20% down and stronger credit.

Question 2

Do I need 20% down to buy in Corte Madera?

Accepted Answer

Yes — conventional loans accept 3% to 5% down, though PMI applies below 20%. FHA allows 3.5% down with a 580+ FICO score. VA and USDA loans offer zero-down options for eligible borrowers.

Question 3

What credit score do I need to qualify?

Accepted Answer

Conventional loans typically require 620+. FHA accepts 580+ FICO. VA loans have no official minimum but lenders often require 620+. Stronger credit (740+) opens better rates and terms.

Question 4

How much does PMI cost on a conventional loan?

Accepted Answer

PMI runs 0.5% to 1.5% annually on the loan amount, depending on your down payment and credit. It cancels automatically at 78% LTV and can be requested at 80% LTV.

Question 5

Is Marin County an FHA high-cost area?

Accepted Answer

Yes. Both FHA and VA loans cap at $1,249,125 here. This high-cost designation affects MIP rates and VA funding fees but doesn't change the loan limits themselves.

Question 6

What's the timeline from offer to closing in Corte Madera?

Accepted Answer

Typical closing takes 30 to 45 days. Appraisals, title work, and underwriting drive the timeline. Corte Madera's competitive market can speed or slow this depending on inspection contingencies.

Question 7

How do property taxes work in Marin County?

Accepted Answer

Marin County property taxes run roughly 0.76% of assessed value annually. Proposition 13 caps increases at 2% per year unless the property changes ownership. Your escrow will include an estimate.

Question 8

Can I get a VA loan with a disability rating below 10%?

Accepted Answer

Yes. VA loans don't require any disability rating. The 10% threshold only applies to the funding fee exemption. Veterans with lower ratings still qualify but pay the funding fee (2.15% at zero down).

Question 9

What does USDA financing look like in this area?

Accepted Answer

USDA loans offer zero down in eligible rural areas near Corte Madera. Income caps apply, scaled by household size. Annual fees run 0.35% upfront and 0.35% yearly, and properties must meet USDA eligibility.

Question 10

How does the new hiking access affect Corte Madera property values?

Accepted Answer

The newly opened mountaintop access boosts outdoor appeal for active buyers. Proximity to hiking and open space has historically supported property values in Marin. This expansion may strengthen demand in nearby neighborhoods.

Question 11

What's the difference between FHA and conventional at this price point?

Accepted Answer

FHA allows 3.5% down but carries MIP for the loan's life if down payment is under 10%. Conventional requires 5% down minimum but skips PMI at 20% down. FHA suits lower down-payment buyers; conventional favors those with more savings.

Question 12

Do jumbo loans require a larger down payment?

Accepted Answer

Yes. Jumbo loans typically demand 20% down minimum, sometimes 25%. Lenders also require 6 to 12 months of reserves and 700+ FICO. Rates usually run 0.125% to 0.5% above conforming.

Question 13

Can I refinance out of PMI later?

Accepted Answer

Yes. Once your loan reaches 80% LTV through payments or home appreciation, you can refinance to drop PMI. Some lenders allow PMI removal at 80% LTV without refinancing if you request it.

Question 14

What income do I need to qualify for a $1,249,125 loan?

Accepted Answer

Lenders typically cap housing debt at 28% to 43% of gross income. A $1,249,125 loan may require $200,000+ annual income depending on other debts. Marin's median household income is $142,785.

Question 15

How does the Bar Auklet restaurant opening affect the area?

Accepted Answer

New dining options like Bar Auklet in nearby Point Reyes Station enhance community appeal. Restaurants and local investment signal confidence in the region's growth and lifestyle, which can support buyer interest.

Corte Madera mortgage questions answered