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Union City sits in Alameda County, one of the Bay Area's most competitive markets. Conforming loans — mortgages that meet Fannie Mae and Freddie Mac guidelines — are the workhorse for buyers here.
HousingWire flagged a 10.4% drop in mortgage applications as the 30-year fixed hit 6.57%. For conforming borrowers, that rate environment means your purchasing power and monthly payment deserve a hard look before you go under contract.
620
Min Credit Score
3%
Min Down Payment
45%
Max DTI
6.57%
30-Yr Fixed (as of Apr 2026)
21–30 Days
Typical Close Time
Conforming Loans in Union City
Most lenders want a 620 credit score minimum for conforming loans. To get competitive pricing, aim for 740 or higher.
Debt-to-income ratio — your monthly debts divided by gross income — needs to stay under 45%. Strong reserves and a clean payment history help when you're right at the edge.
Local decision guide
Use this guide to connect conforming loans eligibility, lender expectations, and local market factors before comparing payment options in Union City.
Union City sits in Alameda County, one of the Bay Area's most competitive markets. Conforming loans — mortgages that meet Fannie Mae and Freddie Mac guidelines — are the workhorse for buyers here.
HousingWire flagged a 10.4% drop in mortgage applications as the 30-year fixed hit 6.57%. For conforming borrowers, that rate environment means your purchasing power and monthly payment deserve a hard look before you go under contract.
Most lenders want a 620 credit score minimum for conforming loans. To get competitive pricing, aim for 740 or higher.
We shop conforming loans across 200+ wholesale lenders. Retail banks quote one rate. We find what actually fits your file.
Conforming loans trade on the secondary market, so pricing is competitive. The difference between lenders often comes down to overlays — internal rules stricter than Fannie and Freddie's.
Conforming is the default choice for most Union City buyers with solid credit and documented income. It's straightforward, widely available, and prices well.
Where I see deals go sideways: buyers who don't know the county loan limit and structure the wrong loan size. Know your limit before you make an offer.
If your loan amount exceeds the conforming limit, you're looking at jumbo — which carries stricter underwriting and typically higher reserves.
FHA loans allow lower credit scores but come with mortgage insurance for the life of the loan. Conforming PMI cancels. That difference adds up over time.
Alameda County is designated a high-cost area. That means higher conforming loan limits than most of the country — keeping more buyers in conforming territory.
Union City's location near major employment corridors draws buyers who need to move fast. Conforming loans close faster than jumbo and have fewer underwriting surprises.
Alameda County is a high-cost area, so limits exceed the national baseline. Confirm the current limit with us before structuring your offer.
Yes. You can put as little as 3% down. You'll pay PMI until you reach 80% loan-to-value, then it cancels.
Conforming loans use risk-based pricing. A 740 score gets better terms than 680. Even small score changes move your rate. Rates vary by borrower profile and market conditions.
For buyers with 620+ credit and 5%+ down, conforming usually wins. FHA mortgage insurance stays for the loan life — conforming PMI does not.
Typically 21 to 30 days with a clean file. Conforming underwriting is standardized, which speeds things up compared to jumbo.
Not automatically. Fannie and Freddie allow self-employed borrowers. You'll need two years of tax returns and a solid income average.