Question 1

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

Accepted Answer

The 2026 conforming limit for San Diego County is $1,104,000. Loans above that amount are jumbo and typically require 20% down and 700+ FICO.

Question 2

Is La Mesa an FHA high-cost area?

Accepted Answer

Yes. La Mesa is in San Diego County, an FHA high-cost area. FHA loans here max out at $1,104,000 with 3.5% down minimum.

Question 3

Is La Mesa a VA high-cost area?

Accepted Answer

Yes. San Diego County is a VA high-cost area. VA loans reach $1,104,000 with zero down for eligible veterans.

Question 4

How much down payment do I need for a conventional loan?

Accepted Answer

Conventional loans typically require 5% to 20% down. At 20% down, PMI drops off entirely. Below 20%, PMI applies until you hit 78% LTV.

Question 5

What credit score do I need for a conventional loan?

Accepted Answer

Most lenders require 620 FICO minimum for conventional loans. Rates improve significantly at 740 FICO and above. La Mesa buyers often qualify at 680+.

Question 6

Can I buy with 3% down?

Accepted Answer

Yes. FHA loans allow 3.5% down with 580+ FICO. Conventional loans can go as low as 3% down with strong compensating factors.

Question 7

What is FHA mortgage insurance and how long does it last?

Accepted Answer

FHA mortgage insurance (MIP) protects the lender if you default. With less than 10% down, MIP runs for the life of the loan. With 10%+ down, it cancels after 11 years.

Question 8

Do VA loans require a down payment?

Accepted Answer

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

Question 9

What is the VA funding fee?

Accepted Answer

The VA funding fee is 2.15% at zero down on first use. Subsequent VA loans cost 3.3%. Veterans with a 10% or higher disability rating are exempt.

Question 10

How does San Diego County's housing boom affect my purchase timeline?

Accepted Answer

San Diego County just completed its biggest low-income housing year in nearly 40 years. More inventory can shorten waits, though competition remains strong in La Mesa.

Question 11

What does San Diego County's median income tell me about affordability?

Accepted Answer

San Diego County's median household income is $102,285. This income level typically qualifies for loans between $400,000 and $550,000 depending on debt and down payment.

Question 12

Are USDA loans available in La Mesa?

Accepted Answer

USDA loans require rural-eligible properties. La Mesa is urban, so USDA financing is not available. Conventional or FHA loans are your primary options.

Question 13

What happens if I want to buy above the conforming limit?

Accepted Answer

Loans above $1,104,000 are jumbo loans. Jumbo lenders typically require 20% down, 700+ FICO, and six months of reserves. Rates usually run 0.125% to 0.5% higher.

Question 14

Can I get a jumbo loan with less than 20% down?

Accepted Answer

Some jumbo lenders allow 10% to 15% down with strong credit and reserves. Most require 20% down. Terms vary by lender and your financial profile.

Question 15

How long does closing take in La Mesa?

Accepted Answer

Conventional closings typically take 30 to 45 days. FHA and VA take 40 to 50 days due to additional inspections and appraisal reviews.

La Mesa mortgage FAQ for San Diego County buyers