The 2026 limits, and where the line falls here
The Federal Housing Finance Agency raised the baseline conforming limit 3.26% for 2026. No Pennsylvania county is designated high-cost, so Delaware County takes the baseline:
| Units | 2026 conforming limit |
|---|---|
| 1 | $832,750 |
| 2 | $1,066,250 |
| 3 | $1,288,800 |
| 4 | $1,601,750 |
Above $832,750 you are in jumbo territory, which typically means 10% to 20% down, a 700-plus score with the best pricing at 740 to 760, debt-to-income around 43% to 45%, and six to twelve months of reserves.
Delco has two housing markets and the FHA limit runs right between them. July 2026 sold medians came in at $214,950 for the 19082 side of Upper Darby, $250,000 around Lansdowne and $259,999 in Clifton Heights, all comfortably inside the $630,200 FHA limit.
Then there is the western end. Broomall’s July 2026 sold median was $650,000, Glen Mills $699,500, Garnet Valley $715,000, Newtown Square $877,000 and Wayne $975,000. Above $630,200 the FHA door closes and conventional is the route, and past $832,750 jumbo takes over. Same county, same recorder of deeds, different loan.
Score and down payment
The floor is 620, and 640 on adjustable-rate loans. Pricing improves as the score rises, with the best tier starting around 780.
Three percent down is available through HomeReady and Home Possible, which run to 97% loan-to-value and cap borrower income at 80% of area median income for the property address. Those income figures live in the automated underwriting systems and get refreshed during the year, so the number that matters is the one the lender pulls for your address. Fannie Mae also waives its loan-level price adjustments for first-time buyers at or under 100% of area median income, and pays a $2,500 credit on HomeReady loans at or under 50% of area median income through February 1, 2027.
Two to four unit owner-occupied purchases go to 95% loan-to-value, and you contribute 3% of your own funds when the loan-to-value is above 80%.
The mortgage insurance ends
This is the part people care about on a long hold. Private mortgage insurance can be cancelled on request when the balance reaches 80% of the original value, the servicer has to drop it automatically at 78%, and it terminates at the midpoint of the loan term regardless. That is federal law.
FHA works differently: below 10% down the annual premium stays for the life of the loan, and the standard exit is a conventional refinance once there is 20% equity. On a house bought in the twin belt with 3.5% down and a few years of the county’s price movement behind it, that refinance is a real plan, subject to lender approval.
The appraisal on an old house
A conventional appraisal is a value opinion first. There is no equivalent of FHA’s minimum property requirements checklist, no automatic write-up for chipping paint on a porch rail, no two-year roof-life test written into the handbook. The appraiser still calls out anything affecting safety, soundness or value, and the lender can still require repairs.
That is one reason a 1920s twin with a tired roof and original wiring sometimes closes cleaner on conventional financing. It cuts the other way when the file is thin, because conventional underwriting is stricter on credit and reserves than FHA is. The FHA appraisal guide lays out the comparison item by item.
Worth knowing: Fannie Mae and Freddie Mac began accepting VantageScore 4.0 in April 2026, which widened the set of borrowers who have a usable score at all.
Condominiums, and what it costs at the table
Delco has condo apartments, and conventional condo rules have moved recently. A project can be non-warrantable for critical repairs, reserves under 10% of the budget, 15% or more of units 60-plus days delinquent on dues, a master insurance deductible over $50,000, heavy commercial space, or structural litigation. FHA retired its Limited and Streamline review options in August 2026, so every project gets a full look now.
The practical answer is that the building’s paperwork decides the loan before your file does. Get the lender the association’s questionnaire early.
Transfer tax is 2% in most of Delaware County, 2.5% in Radnor, Upper Darby and the City of Chester, and 3% in Upper Providence Township, customarily split down the middle. Title insurance is on the statewide TIRBOP schedule: $2,735 for an owner’s policy on a $400,000 purchase, plus $125 for the closing protection letter. None of that changes with the loan type.