Question 1

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

Accepted Answer

The 2026 conforming limit is $1,104,000. Loans above this amount are jumbo loans. FHA and VA also cap at $1,104,000 in this high-cost area.

Question 2

Do I need 20% down to buy in Del Mar?

Accepted Answer

Yes — 20% down avoids PMI on conventional loans. You can put down 3% to 5% and carry PMI instead. FHA allows 3.5% down with 580+ credit.

Question 3

What credit score do I need?

Accepted Answer

Conventional loans typically require 620+. FHA accepts 580+. VA has no hard floor but most lenders prefer 620+. Higher scores get better rates.

Question 4

Is San Diego County an FHA high-cost area?

Accepted Answer

Yes. FHA loan limits here match the conforming limit at $1,104,000. This makes FHA competitive for purchases near the conforming ceiling.

Question 5

Is San Diego County a VA high-cost area?

Accepted Answer

Yes. VA loans cap at $1,104,000 in 2026. Zero-down VA financing is available up to that limit for eligible service members and veterans.

Question 6

How does the county median income affect my qualification?

Accepted Answer

San Diego County's median household income is $102,285. Lenders use your actual income, not the median. The county figure shows what typical buyers earn here.

Question 7

Can I get a jumbo loan above $1,104,000 in Del Mar?

Accepted Answer

Yes. Jumbo loans are available above the conforming limit. They typically require 20% down, 700+ credit, and 6-12 months of reserves.

Question 8

What's the difference between FHA and VA loans?

Accepted Answer

FHA requires 3.5% down minimum; VA allows zero down. FHA charges upfront MIP (1.75%) and annual MIP. VA charges a funding fee instead.

Question 9

How does San Diego's housing growth affect my purchase?

Accepted Answer

San Diego County just completed its biggest year of low-income housing construction. More supply may ease competition in some neighborhoods. Market timing depends on your price range.

Question 10

Can I carry two mortgages while buying in Del Mar?

Accepted Answer

Yes. If you have equity or strong income, you can carry two mortgages. Lenders will count both payments against your debt-to-income ratio.

Question 11

What's the rate lock period on a conventional loan?

Accepted Answer

Rate locks typically run 30 to 60 days. Some lenders offer longer locks for a fee. Lock your rate once you're under contract.

Question 12

When can I cancel PMI on a conventional loan?

Accepted Answer

PMI cancels automatically at 78% LTV. You can request cancellation at 80% LTV if you've paid on time. Home appreciation may help you reach 80% faster.

Question 13

Does Del Mar have HOA fees?

Accepted Answer

Many Del Mar properties are in HOAs. Ask the seller's agent about fees and rules before making an offer. HOA costs count toward your debt-to-income ratio.

Question 14

How long does closing take in San Diego County?

Accepted Answer

Most closings take 30 to 45 days from contract to funding. Jumbo loans may take longer. Your lender will give you a specific timeline.

Del Mar mortgage questions answered