Question 1

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

Accepted Answer

The 2026 conforming limit is $1,249,125. Loans above that are jumbo and carry different terms.

Question 2

How much down payment do I need to buy in Costa Mesa?

Accepted Answer

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

Question 3

What credit score do I need to qualify?

Accepted Answer

Conventional loans usually require 620 or higher. FHA accepts 580+ for the 3.5% down program.

Question 4

Is Costa Mesa an FHA high-cost area?

Accepted Answer

Yes. Orange County is designated an FHA high-cost area in 2026. This affects the loan limit and upfront mortgage insurance premium.

Question 5

Is Costa Mesa a VA high-cost area?

Accepted Answer

Yes. Orange County qualifies as a VA high-cost area for 2026. VA funding fees and loan limits reflect this designation.

Question 6

Do I need PMI on a conventional loan?

Accepted Answer

PMI is required when you put down less than 20%. At 20% down or more, you skip PMI entirely.

Question 7

How does the Newport Mesa school e-bike ban affect my home value?

Accepted Answer

School safety policies influence buyer decisions. The 2026-27 e-bike ban may appeal to families prioritizing campus safety.

Question 8

What's the difference between FHA and conventional loans?

Accepted Answer

FHA requires 3.5% down and charges mortgage insurance for life if down is under 10%. Conventional needs 5%+ down and PMI cancels at 78% LTV.

Question 9

Can I get a VA loan with zero down?

Accepted Answer

Yes. VA loans offer zero-down financing for eligible veterans and active duty with a Certificate of Eligibility.

Question 10

What does a VA funding fee cost?

Accepted Answer

The funding fee is 2.15% of the loan amount on first use with zero down. Veterans with 10%+ disability rating are exempt.

Question 11

How long does closing take in Costa Mesa?

Accepted Answer

Typical closing takes 30 to 45 days from application to funding. Appraisal delays can extend this timeline.

Question 12

What income do I need to qualify in Orange County?

Accepted Answer

There's no hard income floor for conventional or FHA loans. Lenders use debt-to-income ratio, typically capping at 43% to 50%.

Question 13

Are jumbo loans available in Costa Mesa?

Accepted Answer

Yes. Jumbo loans above $1,249,125 typically require 700+ credit, 20% down, and 6 to 12 months of reserves.

Question 14

Can I use USDA financing in Costa Mesa?

Accepted Answer

USDA loans are for rural areas. Costa Mesa is urban, so USDA programs don't apply here.

Question 15

What's the rate lock period on a Costa Mesa mortgage?

Accepted Answer

Rate locks typically run 30, 45, or 60 days. Some lenders offer longer locks for a fee.

Costa Mesa mortgage FAQ — buyer questions answered