Question 1

What's the conforming loan limit in San Joaquin?

Accepted Answer

$766,550 for 2024 in Fresno County. This covers virtually all residential properties in San Joaquin unless you're buying large acreage with structures.

Question 2

Can I use a conforming loan for a property with acreage?

Accepted Answer

Yes, up to 10 acres qualifies if the property is residential. Over 10 acres typically requires portfolio lending, not conforming programs.

Question 3

How does PMI work on conforming loans?

Accepted Answer

You pay monthly mortgage insurance below 20% down. It automatically cancels at 78% loan-to-value through normal payments or when you hit that threshold via appreciation.

Question 4

Do conforming loans accept seasonal farm income?

Accepted Answer

Yes, with two years of tax returns showing consistent patterns. Underwriters average income across 24 months to account for agricultural seasonality.

Question 5

What's the minimum down payment for San Joaquin conforming loans?

Accepted Answer

3% for first-time buyers through Conventional 97 programs. Repeat buyers need 5% minimum unless using specific affordable housing programs.

Question 6

How long does conforming loan approval take in rural areas?

Accepted Answer

Add 7-10 days to standard timelines for rural appraisals and well/septic testing. Total process runs 30-40 days in San Joaquin versus 25-30 in urban areas.

Conforming Loans in San Joaquin: Standard Financing for Central Valley Buyers