Question 1

What is the 2026 conforming loan limit in Orange County?

Accepted Answer

The 2026 conforming limit for Orange County is $1,249,125. Loans above this amount are jumbo loans and typically require 20% down and a higher credit score.

Question 2

Do I need 20% down to buy in Anaheim?

Accepted Answer

Yes — conventional loans accept 5% to 10% down with PMI. FHA allows 3.5% down with a 580+ credit score. VA buyers with a Certificate of Eligibility can put zero down.

Question 3

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. Some lenders go lower with manual underwriting, but 580 is the standard floor.

Question 4

How much does PMI cost on a conventional loan?

Accepted Answer

PMI typically runs 0.3% to 1.5% annually of the loan amount, depending on your down payment and credit. It cancels automatically at 78% LTV or on request at 80% LTV.

Question 5

Is Orange County an FHA high-cost area?

Accepted Answer

Yes. Orange County is designated a high-cost area for FHA loans in 2026. This affects the loan limits and upfront mortgage insurance premium.

Question 6

What is the VA funding fee?

Accepted Answer

The VA funding fee is 2.15% at zero down for first-time use. It rolls into the loan. Veterans with a 10% or higher disability rating are exempt from the fee.

Question 7

How long does it take to close on a home in Anaheim?

Accepted Answer

Most conventional loans close in 30 to 45 days. FHA and VA loans may take 45 to 60 days due to additional appraisal and verification steps.

Question 8

What does Orange County's median household income tell me about affordability?

Accepted Answer

Orange County's median household income is $113,702. Lenders typically allow housing costs up to 28% of gross income, so a median household could support roughly $2,650 monthly.

Question 9

Can I carry two mortgages while buying in Anaheim?

Accepted Answer

Yes. You can carry two mortgages if your debt-to-income ratio allows. Lenders typically cap total debt at 43% to 50% of gross income.

Question 10

Can I use a gift for my down payment?

Accepted Answer

Yes. Most lenders accept down payment gifts from family members. You'll need a gift letter stating the money is a gift, not a loan.

Question 11

What happens if I put less than 20% down on a conventional loan?

Accepted Answer

PMI applies until you reach 78% LTV or request cancellation at 80% LTV. PMI protects the lender if you default early.

Question 12

How do school policies affect home values in Anaheim?

Accepted Answer

School districts shape buyer demand and resale value. Newport Mesa Unified's recent e-bike ban signals safety focus, which appeals to families evaluating neighborhoods.

Question 13

What is the upfront FHA mortgage insurance premium?

Accepted Answer

FHA charges 1.75% upfront mortgage insurance, rolled into the loan amount. With 10% or more down, MIP cancels after 11 years; below 10%, it lasts the life of the loan.

Question 14

Can I get a jumbo loan in Anaheim?

Accepted Answer

Yes. Jumbo loans above $1,249,125 are available but typically require 20% down, 700+ credit, and six months of reserves. Rates usually run 0.125% to 0.5% higher than conforming.

Anaheim mortgage questions answered