Question 1

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

Accepted Answer

The 2026 conforming limit is $1,249,125. Loans above that amount are jumbo and carry different terms. FHA and VA loans also cap at $1,249,125 in Marin.

Question 2

Is Marin County an FHA high-cost area?

Accepted Answer

Yes. Marin is designated an FHA high-cost area, which means FHA loan limits match the conforming limit of $1,249,125 for 2026.

Question 3

Is Marin County a VA high-cost area?

Accepted Answer

Yes. VA loans in Marin also follow the high-cost area rules, with a 2026 limit of $1,249,125.

Question 4

How much down payment do I need for a conventional loan in Larkspur?

Accepted Answer

Conventional loans typically require 5% to 20% down. At 20% down or more, you avoid PMI entirely. Below 20%, PMI applies until you reach 78% LTV.

Question 5

What credit score do I need to qualify for a conventional loan?

Accepted Answer

Most lenders require 620 FICO minimum for FHA and 640 FICO for conventional. Stronger scores of 740+ open better rates and lower down-payment options.

Question 6

Can I get an FHA loan with less than 10% down?

Accepted Answer

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

Question 7

Do VA loans require a down payment in Marin County?

Accepted Answer

No. VA loans allow zero down for eligible veterans and active-duty service members. You'll pay a funding fee instead of PMI—2.15% at zero down for first-time use, 3.3% for subsequent loans.

Question 8

How does the new Marin mountaintop hiking access affect property values in Larkspur?

Accepted Answer

Increased public access to outdoor recreation typically supports buyer demand in Marin. Homes near hiking trails and open space often see steady interest from families and active buyers.

Question 9

What's the difference between FHA and VA loans at the $1,249,125 limit?

Accepted Answer

Both cap at $1,249,125 in Marin. VA allows zero down; FHA requires 3.5% minimum. VA has no annual mortgage insurance; FHA's annual MIP runs for the life of the loan if down payment is under 10%.

Question 10

Can I use a USDA loan in Larkspur?

Accepted Answer

USDA loans are available only in designated rural areas. Larkspur is urban and does not qualify. Conventional, FHA, and VA are your primary options here.

Question 11

What happens if I want to buy above the $1,249,125 limit?

Accepted Answer

Loans above $1,249,125 are jumbo. Jumbo loans typically require 20% down, 700+ FICO, and 6-12 months of reserves. Rates usually run 0.125% to 0.5% above conforming.

Question 12

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

Accepted Answer

Most conventional loans close in 30 to 45 days. FHA and VA can take 45 to 60 days due to additional appraisal and inspection requirements. Jumbo loans may extend to 60 days.

Question 13

Can I refinance an FHA loan to conventional once I have 20% equity?

Accepted Answer

Yes. Once you reach 20% equity, you can refinance to conventional and drop FHA mortgage insurance. Refinancing costs apply, so compare savings over time.

Question 14

What's the income requirement to qualify for a mortgage in Marin County?

Accepted Answer

Lenders typically cap your debt-to-income ratio at 43% to 50%. With Marin's median household income at $142,785, most buyers can qualify for loans in the $600,000 to $900,000 range depending on other debts.

Question 15

Do I need to be a first-time buyer to qualify for FHA in Larkspur?

Accepted Answer

No. FHA is open to all borrowers, not just first-time buyers. You must have a 580+ FICO, 3.5% down, and meet income and debt requirements.

Larkspur home loan questions answered