FHA loans in Coronado (2026)
Amir Nurani · NMLS #197458 · (619) 366-9494
Quick answer: FHA is the Coronado fit when you are not using VA and 3.5% down is what makes an FHA-eligible condo or a rare house under the 2026 $1,104,000 county line possible. Village, Cays, and NAS North Island-adjacent streets are 92118. VA is the more common military product here. High prices push many island sales into jumbo. HUD FHA limits often match that county figure; we still check the HUD table. City of Coronado is not SDHC. Do not count city down payment assistance on this file.
Coronado is its own city (92118), not a Downtown neighborhood. NAS North Island makes VA the first conversation for eligible buyers. This page is for the non-veteran 3.5% down file and for FHA-eligible condos. High prices mean many Village and Cays purchases sit above $1,104,000. Left Coast Leaders, Inc. (NMLS #2394495) prices FHA MIP next to conventional PMI on the same island address, with island taxes, insurance, and any HOA in the monthly number. If you have entitlement, start on VA loans in Coronado. If the loan amount clears the county line, start on jumbo loans in Coronado. The island hub is mortgage broker in Coronado.
Village, Cays, and the 2026 limit
An $850,000 purchase is a realistic FHA-range example we already use on the MIP vs PMI post: 3.5% down is $29,750 cash down, base loan $820,250, plus 1.75% upfront MIP (about $14,350, usually financed). Annual MIP on many 30-year FHA loans has been 0.55% of the base loan (about $376 a month in that example) and typically lasts for the life of the loan if you put less than 10% down.
The 2026 San Diego County 1-unit high-cost conforming limit is $1,104,000 (baseline $832,750). FHA forward limits are a HUD table. In high-cost counties they often match the FHFA high-cost figure. We verify the current HUD county row for a 1-unit, then we look at loan amount, not just list price. High island prices push many Coronado sales above that loan amount. Details: FHA loan limits San Diego 2026, conforming loan limits 2026, and the county FHA loans service hub.
FHA condos versus the VA file
Village condos, Cays units, and NAS North Island-adjacent streets are the local reason this page is not a copy of the county FHA guide. VA is the more common military product when you have entitlement. An FHA condo still has to be eligible. Lenders review the project as well as the buyer. A rare cottage that prices under $1,104,000 still has to clear an FHA appraisal. We talk through property type and entitlement at pre-approval, not after you spend inspection money. For the air station commute, see VA loans near NAS North Island.
Down payment assistance is a different city here
SDHC middle-income help is a City of San Diego 921-ZIP program. City of Coronado is not SDHC. Do not promise or count city down payment assistance on a 92118 primary. CalHFA MyHome can still pair with a CalHFA FHA first (up to the lesser of 3.5% of price or value) when you meet income and first-time rules. City or county DPA, if anything fits the address, needs current funding and often a participating lender. Do not write an offer that depends on assistance until it is confirmed. Guide: San Diego DPA 2026.
When we still pick FHA on the island
- You are not using VA, and 3.5% down is what makes an FHA-eligible Coronado condo or a rare under-limit house possible.
- Credit in the mid-600s, where conventional PMI pricing is painful.
- The project is FHA-eligible if it is a condo, the house can clear an FHA appraisal, and you have modeled a later conventional refinance if you want MIP off.
If you have entitlement, start with VA and compare funding fee versus FHA MIP on the same 92118 payment. If credit is in the 700s, conventional at 5% with cancellable PMI often beats life-of-loan MIP. If the loan amount clears $1,104,000, start with jumbo versus high-balance. Amir Nurani (NMLS #197458) runs the programs that actually apply on one credit file. Use the payment calculator for principal and interest, then we add MIP, tax, insurance, and any HOA from the actual island house or unit.
Related
Coronado mortgage hub · Coronado VA loans · Coronado jumbo loans · VA loans near NAS North Island · FHA loans in San Diego · FHA loan limits 2026 · FHA loans guide · FHA MIP vs PMI · Payment calculator · Coronado news
Frequently asked questions
The 2026 San Diego County 1-unit high-cost conforming limit is $1,104,000. HUD publishes FHA forward limits separately. In high-cost counties they often match that FHFA figure, but we still verify the current HUD county table for the property type before you write on a Village condo, a Cays unit, or a rare under-limit cottage. High island prices push many Coronado sales above that loan amount.
VA is the more common military product next to NAS North Island when you have entitlement. This page is for the non-veteran 3.5% down file and for FHA-eligible condos. If you have a COE, start with VA and compare funding fee versus FHA MIP on the same 92118 address. We will not force FHA when VA is the cleaner payment.
No. City of Coronado is not the City of San Diego, so SDHC city programs do not apply on a 92118 primary. Do not count city down payment assistance in a Coronado offer. CalHFA MyHome can still pair with a CalHFA FHA first when you meet income and first-time rules. Funding must be open. Confirm the agency before you write.
Buying in Coronado with FHA?
Get pre-approved and we will price FHA, VA, and conventional on the same island address, including MIP or funding fee, tax, insurance, and any HOA.
Get Pre-ApprovedLeft Coast Leaders, Inc. · NMLS #2394495 · DRE #02191517 · Equal Housing Lender · San Diego, CA 92111