Question 1

What is the conforming loan limit in Sacramento County for 2026?

Accepted Answer

The 2026 conforming limit is $832,750. Loans above this amount are jumbo and carry stricter credit and down-payment rules.

Question 2

Is Folsom an FHA high-cost area?

Accepted Answer

Yes. Folsom is designated an FHA high-cost area. FHA loans can go up to $764,750 in 2026.

Question 3

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

Accepted Answer

FHA requires 3.5% down with a 580+ FICO score. Upfront mortgage insurance is 1.75% of the loan amount.

Question 4

Do I need 20% down to avoid PMI on a conventional loan?

Accepted Answer

Yes. At 20% down (80% LTV), PMI is not required. Below 20% down, PMI applies until you reach 78% LTV.

Question 5

How long does FHA mortgage insurance last?

Accepted Answer

If you put down less than 10%, MIP runs for the life of the loan. With 10% or more down, MIP cancels after 11 years.

Question 6

Can I get a VA loan with zero down in Folsom?

Accepted Answer

Yes. VA loans allow zero down for eligible veterans and active-duty service members. A funding fee applies instead of PMI.

Question 7

What credit score do I need for a conventional loan?

Accepted Answer

Most lenders require 620+ FICO for conventional loans. Stronger credit (740+) typically qualifies for better rates and terms.

Question 8

How does Sacramento County's median income affect my qualification?

Accepted Answer

Sacramento County's median household income is $88,724. This figure may affect USDA loan eligibility and debt-to-income calculations.

Question 9

What's the VA funding fee exemption?

Accepted Answer

VA funding fee is waived only if you have a VA disability rating of 10% or higher. Otherwise, the fee applies at closing.

Question 10

Can I use a jumbo loan in Folsom?

Accepted Answer

Yes. Jumbo loans exceed the $832,750 conforming limit. They typically require 700+ FICO, 20% down, and 6-12 months of reserves.

Question 11

How long does it take to close a mortgage in Folsom?

Accepted Answer

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

Question 12

Are property taxes in Sacramento County high?

Accepted Answer

Sacramento County property taxes run about 0.76% of assessed value annually. Budget accordingly when calculating your total housing costs.

Question 13

How do school funding challenges in Sacramento City Unified affect home values?

Accepted Answer

Recent budget deficits in Sacramento City Unified may pressure property values in affected school zones. Research which schools serve your specific address.

Folsom home loan questions answered