Question 1

What credit score do I need for a conventional loan in Hayward?

Accepted Answer

Most lenders require at least 620. Scores above 740 get you the best pricing and lowest fees.

Question 2

Can I put less than 20% down on a conventional loan?

Accepted Answer

Yes, some programs allow as little as 3% down. You'll pay PMI until you reach 20% equity.

Question 3

How does conventional compare to FHA in Hayward?

Accepted Answer

Conventional has stricter credit requirements but no lifetime mortgage insurance. FHA MIP often stays for the loan's life.

Question 4

What is the conforming loan limit for Alameda County?

Accepted Answer

Alameda County follows California's high-cost conforming limits. Loans above that limit move into jumbo territory with different pricing.

Question 5

How fast can a conventional loan close in Hayward?

Accepted Answer

Most conventional purchases close in 21–30 days. Clean files with strong documentation close faster.

Question 6

Does the current rate environment affect my Hayward purchase?

Accepted Answer

Yes. With 30-year fixed rates at 6.57% as of April 2026, your rate lock timing matters. We watch daily movement across lenders.

Conventional Loans in Hayward, CA