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FHA loans in Burbank, 2026
Burbank FHA Loans
A Burbank FHA loan often starts with a condo, in Burbank Center near the Metrolink station or in the Media District around the studio lots. FHA lets a first-time buyer get in with 3.5% down, and the county limit of $1,249,125 is not the constraint. The details that matter are a price point where FHA mortgage insurance steps up, the condo building’s approval and, for some older buildings, a seismic retrofit.
See if FHA fits FHA rates today
Where a Burbank FHA Loan Fits the Market
Burbank is majority renter, with a 43.3% ownership rate in the Census Bureau’s 2020-2024 survey, so the pool of potential first-time buyers is large. Single-family houses mostly start around $1.2 million, which puts the city’s entry point in its condo districts.
At $788,000, FHA’s 3.5% minimum is about $27,580. You need a 580 score for that minimum; 500 to 579 requires 10% down. At the top end, the county limit lets FHA reach a price of about $1,294,000 at 3.5% down, which brings a Magnolia Park or South Burbank house into range for a buyer whose income supports it.
Today’s Burbank FHA and Conventional Rates
Priced for Los Angeles County, October 27, 2026
0.187 points See every option 30-year fixed 7.125% 7.192% APR P&I $4,312/mo on $640,000
0.125 points See every option 15-year fixed 6.375% 6.436% APR P&I $5,531/mo on $640,000
$800 lender credit See every option 30-year VA 6.750% 6.794% APR P&I $4,151/mo on $640,000
$506 lender credit See every option 30-year jumbo 8.125% 8.207% APR P&I $10,395/mo on $1,400,000
0.322 points See every option
Par pricing for a single-family primary residence in Los Angeles County: 20% down, 30-year term unless noted, 780+ credit, 30-day lock, escrows included. Payments are principal and interest only; taxes and insurance add to them. Rates change through the day and are not a commitment to lend. Price your own Burbank scenario, no credit pull.
Entry-Level Numbers for Burbank Buyers
Sources: Zillow Home Value Index and Observed Rent Index (September 30, 2026); Redfin 91502 housing market (August 2026); U.S. Census Bureau ACS 2020-2024.
Rent near $2,752 a month is the natural comparison for a first-time buyer. A Burbank FHA loan on a condo will cost more each month once mortgage insurance, property tax, insurance and HOA dues are added, so the case for buying rests on building equity and locking in housing costs rather than on a smaller payment. The 91502 median shows that a few downtown units trade well under the Zillow figure, which is why a building-by-building search pays off.
Burbank Neighborhoods for First-Time FHA Buyers
Burbank Center and Downtown (91502)
Condos and apartments near the Metrolink station and the downtown shops, at about $788,000. The station is a draw for buyers who commute by train, and this is a natural starting point for a Burbank FHA loan.
Media District
Apartments, condos and small houses around the Disney, Warner Bros. and former NBC lots, at about $939,000.
Magnolia Park and South Burbank
Houses around $1.20 million to $1.23 million, mostly 1940s stock. FHA reaches these prices, but the payment can take a dual income, and older houses can draw appraisal repair items.
Northwest Burbank Near the Airport
Valley-floor single-family streets around Hollywood Burbank Airport. Read the airport noise disclosure early; it does not block an FHA loan, but it is part of the decision.
The $752,500 Price Break on a Burbank FHA Loan
FHA charges an upfront premium of 1.75% of the base loan, usually rolled into the loan, plus an annual premium billed monthly. For a 30-year loan, the annual rate depends on whether the base loan is above $726,200. At or below it, the rate is 0.55% with 3.5% down and 0.50% with 5% or more. Above it, 0.75% and 0.70%. With 3.5% down, the base loan crosses $726,200 at a price of about $752,500, within the range of Burbank’s condo prices.
That makes the price, or the down payment, worth a second look. A $750,000 condo with 3.5% down stays on the lower tier. The Burbank Center typical value of $788,000 does not, unless the buyer puts enough down to bring the base loan under the line. The table runs $750,000 at three down payments.
| $750,000 purchase | Base loan | Upfront MIP, 1.75% | Monthly MIP | MIP lasts |
|---|---|---|---|---|
| 3.5% down | $723,750 | $12,666 | $332 (0.55%/yr) | Life of the loan |
| 5% down | $712,500 | $12,469 | $297 (0.50%/yr) | Life of the loan |
| 10% down | $675,000 | $11,813 | $281 (0.50%/yr) | 11 years |
Annual MIP for case numbers endorsed on or after March 20, 2023 (ML 2023-05), unchanged through October 2026.
With 10% or more down the annual premium stops after 11 years; with less it runs for the life of the loan. A common plan is to refinance into a conventional loan once they have about 20% equity.
FHA or Conventional at a 660 Score
Conventional loans with 5% down get more expensive as scores fall, in both rate and private mortgage insurance, while FHA pricing barely moves. At a 660 score that difference often decides it. Here is the $788,000 Burbank Center price both ways at today’s Los Angeles County rates.
| $788,000 purchase, 660 credit | Conventional, 5% down | FHA, 3.5% down |
|---|---|---|
| Down payment | $39,400 | $27,580 |
| Loan amount | $748,600 | $773,727 with 1.75% upfront MIP |
| Today’s rate (APR) | 8.125% (8.255%) | 7.250% (7.320%) |
| Principal and interest | $5,558/mo | $5,278/mo |
| Mortgage insurance | $799/mo PMI | $475/mo MIP |
| Before taxes and insurance | $6,357/mo | $5,753/mo |
| Mortgage insurance ends | At 20% equity (can be removed) | Life of the loan with under 10% down |
Before property tax, insurance and HOA dues. Rates are today’s county par prices, each shown with APR, and change daily.
Condo Buildings: Approval and Retrofits
An FHA condo loan needs the project to be FHA-approved or the unit to receive a single-unit approval, so the building comes before the unit. Send Mike the address before you write an offer. In Burbank there is a second question for older buildings. The city’s December 2025 soft-story ordinance requires retrofits of older wood-frame apartment buildings with tuck-under parking, with construction due by January 10, 2030. If a condo building is in that category, ask the association about its plan, its reserves and whether a special assessment is coming, since dues count in your debt-to-income ratio. The FHA appraiser will also flag health and safety items such as damaged stairs, railings or roofs.
Duplexes to Fourplexes on FHA
If you live in one unit, FHA finances two to four units with the same 3.5% minimum. Projected rent from the other units can help you qualify, under each lender’s rules. Burbank’s Tenant Protection Ordinance, which adds relocation requirements to state just-cause rules for covered units, comes with any tenants you inherit. Burbank has no local rent control in effect; a 4% soft cap for older multifamily was proposed in 2025 but had not been adopted as of June 2026. Read the Burbank rental rules before you plan a move-in.
| Los Angeles County, 2026 | FHA loan limit | Highest price at 3.5% down |
|---|---|---|
| One unit (house, condo, townhome) | $1,249,125 | $1,294,400 |
| Two units | $1,599,375 | $1,657,300 |
| Three units | $1,933,200 | $2,003,300 |
| Four units | $2,402,625 | $2,489,700 |
FHA forward mortgage limits for Los Angeles County, 2026 (HUD Mortgagee Letter 2025-23).
Burbank FHA Loan Requirements
- Score and down payment: 3.5% down at 580 or above; 10% down from 500 to 579; many lenders set a higher floor.
- Primary residence: you must move in; FHA is not for second homes or pure rentals.
- Steady income: two years of work history is the usual starting point. Studio workers paid by the project should bring contracts and returns that show the pattern.
- Payment ratio: lenders weigh the full payment, with MIP and HOA dues, against gross monthly income.
- Eligible property: an approved condo project or unit, and an appraisal that clears FHA’s safety standards.
Five Steps to a Burbank FHA Closing
- Send the building and budgetCondo name or address, price range, score estimate and savings.
- Run FHA against conventionalMike prices both at your score with us and against other wholesale lenders, with the MIP break in view.
- Get pre-approvedIncome, assets and any gift funds are documented before the offer.
- Appraisal and HOA reviewA county appraiser and the condo approval run in parallel during escrow.
- Sign and fundLocal escrow closes it; you sign electronically or with a mobile notary.
Down Payment Help: What Is Open
- Burbank Homeownership Interest List: the city keeps an interest list for affordable homeownership opportunities. It is a list, not a down payment program, and no active city assistance program was found for 2026.
- LACDA Home Ownership Program (HOP80 and HOP150): Los Angeles County’s first-time buyer help. Its 2026 funding and eligibility for Burbank addresses were not confirmed, so ask LACDA.
- CalHFA MyHome Assistance: up to 3.5% of the price as a deferred junior loan with a CalHFA FHA first mortgage, for first-time buyers within income limits. Listed as current, along with the Zero Interest Program for CalPLUS FHA loans and MyAccess for CalPLUS Access FHA loans.
- Dream For All: up to 20% of the price, maximum $150,000, by drawing; the 2026 portal closed March 16, 2026.
Funding rounds change through the year, so confirm a program’s status when you apply. For case numbers from January 1, 2027, lenders may also use FICO 10T and VantageScore 4.0, with unchanged thresholds. Veterans should compare a Burbank VA loan, and the FHA program guide has the general rules.
FHA Questions From Burbank Buyers
What is the 2026 Burbank FHA loan limit?
$1,249,125 for a one-unit home, the Los Angeles County limit, which is also the national FHA ceiling. A duplex can go to $1,599,375 and a fourplex to $2,402,625. The limit is on the base loan, before the 1.75% upfront premium is added.
Why does FHA mortgage insurance cost more above about $752,500?
The annual premium on a 30-year FHA loan rises once the base loan passes $726,200: from 0.55% to 0.75% at 3.5% down. With the minimum down payment, that happens at a price of about $752,500. On a $788,000 Burbank condo, a little more down can keep the base loan under the line and lower the monthly premium.
Does Burbank offer down payment assistance?
No active city program was found for 2026. Burbank keeps a Homeownership Interest List for affordable homeownership opportunities, which is worth joining. LA County’s LACDA Home Ownership Program exists, but its funding and Burbank eligibility were not confirmed. CalHFA’s MyHome Assistance, paired with a CalHFA FHA loan, is listed as a current statewide option.
Can I buy a condo in an older Burbank building with FHA?
Yes, if the project is FHA-approved or the unit gets a single-unit approval. For older wood-frame buildings with tuck-under parking, also ask whether the building falls under Burbank’s soft-story retrofit ordinance, with construction due by January 10, 2030, and how the association plans to pay for it.
When does FHA mortgage insurance go away?
Put down 10% or more and the annual premium stops after 11 years. With less, it lasts for the life of the loan, and the usual way out is a refinance into a conventional loan once you reach about 20% equity. The 1.75% upfront premium is a one-time charge, normally financed.
Can project-based studio income qualify for a Burbank FHA loan?
Often, yes. FHA lenders typically look for a two-year history in the same line of work and average variable earnings. Gaps between productions need a short explanation, and union or guild records can help document the pattern.
Will a 4% rent cap affect a duplex I buy with FHA?
The 4% soft cap the Council asked staff to draft in October 2025 was proposed for pre-February 1995 multifamily buildings and had not been adopted as of the city’s June 2026 FAQ. Today AB 1482 and the Tenant Protection Ordinance apply to covered units; check the city’s status before you buy.
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Send the price range, the building if it is a condo, your rough score and your savings. Mike will compare FHA with conventional at your score from our own programs and, when it helps, other wholesale lenders. No credit pull to start.
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