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 and carry different rates and down-payment rules.

Question 2

Is Orange County an FHA high-cost area?

Accepted Answer

Yes. Orange County is designated high-cost for FHA, which means the FHA limit matches the conforming limit at $1,249,125.

Question 3

Is Orange County a VA high-cost area?

Accepted Answer

Yes. VA loans in Orange County also cap at $1,249,125, the same as the conforming limit.

Question 4

How much do I need to put down on a conventional loan in Garden Grove?

Accepted Answer

Conventional loans typically require 3% to 20% down. At 20% down, 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 mortgage?

Accepted Answer

Most lenders require 620+ FICO for FHA and 640+ for conventional. Some programs accept lower scores, but rates climb as credit drops.

Question 6

Can I get an FHA loan with 3.5% down?

Accepted Answer

Yes. FHA allows 3.5% down with a 580+ FICO score. Upfront mortgage insurance is 1.75% of the loan amount, rolled into the loan.

Question 7

Does FHA mortgage insurance ever go away?

Accepted Answer

Yes, but timing depends on your down payment. With 10% or more down, MIP cancels after 11 years. Below 10% down, it runs for the loan's life.

Question 8

Can I get a VA loan with zero down?

Accepted Answer

Yes. VA loans require zero down for eligible veterans, active duty, and surviving spouses with a Certificate of Eligibility. A funding fee applies instead of PMI.

Question 9

What is the VA funding fee?

Accepted Answer

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

Question 10

How does the school e-bike ban affect my home choice in Garden Grove?

Accepted Answer

The Newport Mesa school district banned e-bikes starting 2026-27. If your kids attend those schools, factor in transportation logistics when choosing neighborhoods.

Question 11

What does the county median income tell me about affordability?

Accepted Answer

Orange County's median household income is $113,702. This benchmark helps lenders assess your debt-to-income ratio and qualifying power for jumbo loans.

Question 12

When does PMI cancel on a conventional loan?

Accepted Answer

PMI cancels automatically at 78% LTV. You can request cancellation at 80% LTV if you've built equity. Once canceled, it doesn't return.

Question 13

What's the difference between conforming and jumbo loans?

Accepted Answer

Conforming loans stay at or below $1,249,125. Jumbo loans exceed that limit and typically require 20% down, higher credit, and carry rates 0.125% to 0.5% above conforming.

Question 14

Do I need to sell my current home before buying in Garden Grove?

Accepted Answer

Not necessarily. If you have enough equity and income to carry both mortgages, lenders may approve a bridge or simultaneous close. Significant equity helps.

Question 15

How long does it take to close a mortgage in Garden Grove?

Accepted Answer

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

Garden Grove mortgage questions answered