Question 1

What is the conforming loan limit in San Bernardino County for 2026?

Accepted Answer

The 2026 conforming limit is $832,750. Loans above this amount are jumbo and typically require 20% down and a higher credit score.

Question 2

Can I get an FHA loan in Grand Terrace?

Accepted Answer

Yes. FHA loans are available in San Bernardino County with a 2026 limit of $690,000. You'll need 580+ FICO and can put down as little as 3.5%.

Question 3

Is San Bernardino County an FHA high-cost area?

Accepted Answer

Yes. Grand Terrace is in an FHA high-cost area, which means the limit is higher than standard FHA caps in other counties.

Question 4

Do VA loans require a down payment in Grand Terrace?

Accepted Answer

No. VA loans allow zero down for eligible veterans, active duty, and surviving spouses with a Certificate of Eligibility.

Question 5

What credit score do I need for a conventional loan?

Accepted Answer

Most lenders require 620+ FICO for conventional loans. Better rates typically start around 680+. Your specific score affects your rate and down payment options.

Question 6

How much down payment do I need to avoid PMI?

Accepted Answer

Yes — 20% down avoids PMI on conventional loans. Below 20%, PMI applies. PMI cancels automatically at 78% LTV.

Question 7

What does the Ontario Airport expansion mean for Grand Terrace property values?

Accepted Answer

Ontario International Airport's ONT BOLD expansion project is underway. Infrastructure improvements can support long-term property appreciation in the region.

Question 8

How does San Bernardino County's median income affect my loan options?

Accepted Answer

San Bernardino County's median household income is $82,184. This figure helps determine USDA eligibility and income-based loan programs in the area.

Question 9

Can I get a VA loan if I have a disability rating?

Accepted Answer

Yes. VA loans are available to all eligible veterans. If you have a 10%+ VA disability rating, you may qualify for a funding fee exemption.

Question 10

What's the difference between FHA and conventional loans in Grand Terrace?

Accepted Answer

FHA requires 3.5% down minimum and allows lower credit scores. Conventional typically needs 5%+ down. FHA has mortgage insurance for life if down payment is under 10%.

Question 11

Are there new dining options affecting the Grand Terrace market?

Accepted Answer

Yes. Six new coffeehouses and award-winning breweries have opened across the Inland Empire recently. Local amenities like these support neighborhood appeal.

Question 12

Do I need to be a first-time buyer to use FHA?

Accepted Answer

No. FHA loans are available to any borrower who meets credit and income requirements, regardless of prior homeownership.

Question 13

What happens if my loan amount exceeds the conforming limit?

Accepted Answer

Loans above $832,750 are jumbo. Jumbo loans typically require 20%+ down, 700+ FICO, and carry rates slightly higher than conforming.

Question 14

Can I refinance an FHA loan to conventional later?

Accepted Answer

Yes. Once you build equity and your credit improves, refinancing to conventional can eliminate mortgage insurance if you reach 20% equity.

Question 15

What is the funding fee on a VA loan?

Accepted Answer

The funding fee is 2.15% at zero down on your first VA loan use. Subsequent uses run 3.3%. Veterans with 10%+ disability ratings are exempt.

Grand Terrace mortgage questions answered