Question 1

What's the conforming loan limit in Taft for 2026?

Accepted Answer

$806,500 for single-family homes. Most Taft properties fall well below this, qualifying for standard conforming rates and terms.

Question 2

Can I get a conforming loan with 5% down?

Accepted Answer

Yes, but you'll pay PMI until you reach 20% equity. First-time buyers can go as low as 3% down with approved mortgage insurance.

Question 3

Do conforming lenders approve oil industry workers?

Accepted Answer

Absolutely—W-2 income from energy jobs qualifies normally. Lenders prefer seeing 6+ months reserves given the industry's cyclical nature.

Question 4

How long does conforming loan approval take in Taft?

Accepted Answer

3-4 weeks typical. Rural appraisals add a few days since fewer appraisers cover Kern County compared to metro markets.

Question 5

What credit score gets the best conforming rates?

Accepted Answer

740+ unlocks top-tier pricing. You'll qualify at 620, but every 20-point jump below 740 costs about 0.25% in rate.

Question 6

Can self-employed borrowers get conforming loans?

Accepted Answer

Yes, with two years of tax returns showing stable income. We average your net profit and apply it to debt-to-income calculations.

Conforming Loans in Taft: Standard Rates, Local Flexibility