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 amount are jumbo loans. FHA and VA loans cap at $1,249,125 as well.

Question 2

Is Orange County an FHA high-cost area?

Accepted Answer

Yes. Orange County is designated as an FHA high-cost area. This affects the upfront mortgage insurance premium and ongoing MIP.

Question 3

Is Orange County a VA high-cost area?

Accepted Answer

Yes. VA loans in Orange County are subject to high-cost area rules. The funding fee reflects this designation.

Question 4

What credit score do I need for a conventional loan?

Accepted Answer

Most lenders require 620 FICO minimum for conventional loans. Scores of 740+ typically qualify for better rates. Ask your broker about their specific floor.

Question 5

How much down payment avoids PMI on a conventional loan?

Accepted Answer

You need 20% down to skip PMI entirely. Below 20%, PMI applies. PMI cancels automatically at 78% LTV or on request at 80% LTV.

Question 6

What's the minimum down payment for an FHA loan?

Accepted Answer

FHA requires 3.5% down with a 580+ FICO score. The upfront mortgage insurance premium is 1.75% of the loan amount. MIP runs for life if down payment is under 10%.

Question 7

Can I get a VA loan with zero down?

Accepted Answer

Yes. VA loans allow zero-down purchases for eligible veterans, active duty, and surviving spouses with a Certificate of Eligibility. The funding fee replaces PMI (2.15% at zero down for first use).

Question 8

How does the school e-bike ban affect my buying decision?

Accepted Answer

The Newport Mesa Unified School District e-bike ban starting in 2026-27 signals the district's focus on student safety. If you have school-age children, this reflects the district's approach to campus rules.

Question 9

What's the difference between FHA and VA loans at this limit?

Accepted Answer

Both cap at $1,249,125 in Orange County. VA allows zero down; FHA requires 3.5% minimum. VA has no PMI; FHA has MIP for life if down payment is under 10%.

Question 10

Can I qualify for a purchase loan while still owning my current home?

Accepted Answer

Yes. You can qualify for a new purchase loan while still owning your current home. Lenders will factor your existing mortgage into debt-to-income calculations.

Question 11

What income do I need to qualify in Fullerton?

Accepted Answer

Orange County's median household income is $113,702. Lenders typically allow debt-to-income ratios of 43% to 50%. A mortgage broker can run your specific numbers.

Question 12

How long does closing take on a Fullerton home?

Accepted Answer

Standard conventional closings take 30 to 45 days from application to funding. FHA and VA loans may take 40 to 50 days due to additional steps. Timeline depends on document turnaround and appraisal speed.

Question 13

Can I get a jumbo loan above the conforming limit?

Accepted Answer

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

Question 14

What closing costs should I expect?

Accepted Answer

Closing costs typically run 2% to 5% of the loan amount. They include appraisal, title, underwriting, and insurance fees. Your loan estimate will break down exact costs within three business days.

Fullerton home loan questions answered