Question 1

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

Accepted Answer

The 2026 conforming limit is $832,750. VA loans also cap at that amount. FHA loans max out at $685,400 in this high-cost area.

Question 2

Is Solano County an FHA high-cost area?

Accepted Answer

Yes. Solano County qualifies as an FHA high-cost area. This means FHA loan limits are higher than the standard national baseline.

Question 3

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

Accepted Answer

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

Question 4

What credit score do I need to buy in Fairfield?

Accepted Answer

Conventional loans typically require 620+ FICO. FHA loans accept 580+ FICO with 3.5% down. VA loans have no set minimum but most lenders want 620+.

Question 5

How much down payment do I need to avoid PMI?

Accepted Answer

Yes — 20% down eliminates PMI on a conventional loan. Below 20%, PMI applies. At 80% LTV or higher, you skip mortgage insurance entirely.

Question 6

What's the FHA down payment minimum?

Accepted Answer

FHA requires 3.5% down minimum with a 580+ credit score. Upfront mortgage insurance is 1.75% of the loan amount, rolled into the loan.

Question 7

Does FHA mortgage insurance ever go away?

Accepted Answer

It depends on your down payment. With 10% or more down, MIP cancels after 11 years. Below 10% down, MIP runs for the life of the loan.

Question 8

What income do I need to qualify in Fairfield?

Accepted Answer

Income requirements depend on your debt-to-income ratio, typically capped at 43-50%. Solano County's median household income is $99,994, so most buyers qualify comfortably.

Question 9

How long does closing take in California?

Accepted Answer

California closings typically take 30-45 days from application to funding. Title search and escrow review add time. Appraisal delays can extend the timeline.

Question 10

Can I carry two mortgages while buying in Fairfield?

Accepted Answer

Yes. You can qualify for a bridge loan or carry two mortgages temporarily. However, lenders will count your current payment against your debt ratio.

Question 11

What's a jumbo loan and when do I need one?

Accepted Answer

Jumbo loans exceed the $832,750 conforming limit. They typically require 20% down, 700+ FICO, and 6-12 months reserves. Rates usually run 0.125-0.5% above conforming.

Question 12

Can I use a VA Streamline refinance later?

Accepted Answer

Yes. VA Streamline (IRRRL) lets you refinance with minimal documentation and no appraisal. You must have used your VA benefit on the original purchase.

Question 13

How do property taxes work in Fairfield?

Accepted Answer

California property taxes are roughly 1% of assessed value annually. Proposition 13 caps increases at 2% per year unless the property sells.

Question 14

What's the difference between a rate lock and a float-down?

Accepted Answer

A rate lock guarantees your rate for a set period, typically 30-60 days. Float-down lets you capture lower rates if they drop before closing.

Fairfield home loan questions answered