Question 1

What is 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 and carry different rates and down-payment rules.

Question 2

Do I need 20% down to buy a home in El Cajon?

Accepted Answer

No. Conventional loans accept 5% to 10% down with mortgage insurance. FHA allows 3.5% down with a 580+ credit score. VA buyers can put zero down.

Question 3

What credit score do I need to qualify for a mortgage?

Accepted Answer

Conventional loans typically require 620+. FHA goes as low as 580. VA has no published minimum but most lenders want 620+. Higher scores get better rates.

Question 4

Is San Diego County an FHA high-cost area?

Accepted Answer

Yes. San Diego is designated an FHA high-cost area. The FHA loan limit matches the conforming limit at $1,104,000.

Question 5

Is San Diego County a VA high-cost area?

Accepted Answer

Yes. VA loans in San Diego County can go up to $1,104,000 without a down payment. The funding fee replaces mortgage insurance.

Question 6

How much does PMI cost on a conventional loan?

Accepted Answer

PMI typically runs 0.5% to 1% of the loan amount annually. It cancels automatically at 78% LTV and can be requested at 80% LTV.

Question 7

How long does it take to close on a home in El Cajon?

Accepted Answer

Most closings take 30 to 45 days from offer to funding. Appraisals, inspections, and title work drive the timeline.

Question 8

What's the difference between FHA and VA loans?

Accepted Answer

FHA requires 3.5% down minimum and charges upfront and annual mortgage insurance. VA allows zero down for eligible veterans with a funding fee instead.

Question 9

Can I get a jumbo loan in El Cajon?

Accepted Answer

Yes. Jumbo loans above $1,104,000 typically require 20% down, 700+ credit, and 6 to 12 months of reserves. Rates run 0.125% to 0.5% above conforming.

Question 10

What does the San Diego County median household income tell me about affordability?

Accepted Answer

San Diego County's median is $102,285. This income level typically qualifies for a conventional loan around $400,000 to $450,000 depending on debt and down payment.

Question 11

How does the low-income housing boom affect El Cajon buyers?

Accepted Answer

San Diego County just completed its biggest year of low-income rental construction in 40 years. This increases rental supply and may ease pressure on home prices.

Question 12

Do I need to sell my current home before buying in El Cajon?

Accepted Answer

Not necessarily. Bridge loans and contingent offers let you buy before selling. Lenders will count your current mortgage payment against your debt-to-income ratio.

Question 13

What's the funding fee on a VA loan in San Diego County?

Accepted Answer

First-time VA users pay 2.15% at zero down. Subsequent uses pay 3.3%. Veterans with a 10% or higher VA disability rating are exempt.

Question 14

Can I refinance an FHA loan to conventional later?

Accepted Answer

Yes. Once you hit 20% equity and your credit improves, you can refinance to conventional and drop the mortgage insurance.

El Cajon mortgage questions answered