Question 1

What's the conforming loan limit in Placer County for 2026?

Accepted Answer

The 2026 conforming limit is $832,750. Loans above that are jumbo and carry different rates and terms.

Question 2

Can I get an FHA loan in Lincoln?

Accepted Answer

Yes. Lincoln is in an FHA high-cost area. The 2026 FHA limit is $764,750. FHA requires 3.5% down with 580+ credit and charges mortgage insurance for life if you put down less than 10%.

Question 3

Is Lincoln in a VA high-cost area?

Accepted Answer

No. VA loans in Lincoln follow the standard conforming limit of $832,750 for 2026. Zero-down VA loans are available for eligible veterans and active-duty service members.

Question 4

What's the minimum credit score for a conventional loan?

Accepted Answer

Most lenders require 620+ for conventional loans. Some require 640+. The exact floor depends on your down payment and debt-to-income ratio.

Question 5

How much down do I need to avoid PMI?

Accepted Answer

Yes—20% down eliminates PMI on a conventional loan. Below 20%, PMI applies until you reach 78% LTV. PMI can be requested at 80% LTV.

Question 6

What's the VA funding fee and can it be waived?

Accepted Answer

The VA funding fee is 2.15% on a zero-down purchase for first-time users. A 10%+ VA disability rating exempts you from the funding fee entirely.

Question 7

How does the Palisades Tahoe development affect Lincoln's market?

Accepted Answer

The ski village expansion is a major regional project. It could drive demand and property values in Placer County over time.

Question 8

What income do I need to qualify for a mortgage?

Accepted Answer

There's no hard income floor. Lenders typically want your housing payment under 28% of gross income. Placer County's median is $114,678.

Question 9

Can I carry two mortgages while buying in Lincoln?

Accepted Answer

Yes. You can carry two mortgages if your debt-to-income ratio allows it. Lenders will count both payments toward your qualifying ratio.

Question 10

What's the difference between FHA and VA loans?

Accepted Answer

FHA requires 3.5% down and charges mortgage insurance for life if under 10% down. VA allows zero down and charges a one-time funding fee instead.

Question 11

What properties qualify for FHA financing?

Accepted Answer

Yes—FHA loans are for primary residences only. For a second home or investment property, you'll need conventional or jumbo financing.

Question 12

How long does closing take in Placer County?

Accepted Answer

Typical closing is 30–45 days from application to funding. Appraisal delays or complex files can extend that timeline.

Question 13

What closing costs should I expect?

Accepted Answer

Closing costs typically run 2–5% of the loan amount. They include appraisal, title, escrow, and lender fees.

Question 14

Do I need a down payment for a VA loan?

Accepted Answer

No. VA loans allow zero down for eligible borrowers. The funding fee replaces PMI. The full purchase price becomes the loan amount.

Question 15

What's the jumbo loan cutoff in Lincoln?

Accepted Answer

Any loan above $832,750 is jumbo in Placer County for 2026. Jumbo loans typically require 20% down and 700+ credit.

Mortgage questions from Lincoln, CA buyers