Loading
Conforming Loans in Hidden Hills
Hidden Hills sits in the luxury tier of Los Angeles County, where most properties exceed conforming loan limits. The 2024 conforming limit is $766,550 for single-family homes.
Most Hidden Hills buyers need jumbo financing. Conforming loans work for condos, smaller properties, or refinances where you've built substantial equity.
The gated community's typical home values push buyers into jumbo territory. Conforming loans remain an option for properties under the limit or as a first mortgage in piggyback structures.
Conforming loans require 620 minimum credit, though 740+ gets you the best rates. Down payment starts at 3% for first-time buyers, 5% for repeat buyers.
Debt-to-income ratio caps at 50% in most cases. You'll need two years of stable income and full documentation—W-2s, tax returns, bank statements.
These loans follow strict Fannie Mae and Freddie Mac guidelines. No flexibility on credit events like bankruptcies (4 years minimum) or foreclosures (7 years).
Every major lender offers conforming loans—it's the most standardized mortgage product available. Rates vary by lender even though the guidelines stay identical.
We shop across 200+ wholesale lenders to find the best rate and fee combination. Rate differences of 0.25% to 0.50% are common between lenders on the same day.
Some lenders price conforming loans more aggressively to gain market share. Others add overlays like higher credit requirements or reserves. A broker finds the cleanest path.
In Hidden Hills, conforming loans work best as part of an 80-10-10 structure—80% conforming first, 10% HELOC second, 10% down. This avoids PMI and jumbo pricing on properties just above the limit.
If you're refinancing a $1.2 million home but only owe $650,000, a conforming loan gives you better rates than jumbo. The loan amount matters, not the property value.
Conforming loans close faster than jumbo—usually 21 days versus 30-45. Underwriting is automated through Desktop Underwriter, so you get approval decisions in hours, not days.
Jumbo loans in Hidden Hills typically run 0.375% to 0.625% higher than conforming rates. On a $750,000 loan, that's $2,800 to $4,700 more per year.
FHA loans allow lower credit scores and just 3.5% down, but they cap at $644,000 in Los Angeles County—below most Hidden Hills properties. You also pay mortgage insurance for the loan's life.
Conventional loans and conforming loans are the same thing when the loan amount stays under $766,550. Above that limit, you're in jumbo territory with different rules and pricing.
Hidden Hills properties rarely hit the market under $766,550. You're looking at condos, teardowns, or unique situations like family transfers.
The city's prestige means even smaller properties appreciate quickly. A conforming loan purchased at $750,000 might need jumbo refinancing in three years when the home's worth $950,000.
Buyers using conforming loans here typically leverage them in creative structures—first mortgages in piggybacks, refinances after divorce settlements, or estate transitions where equity is high.
Only as a first mortgage in an 80-10-10 structure, where $766,550 is the conforming first and you cover the rest with a second mortgage and down payment. Otherwise, you need a jumbo loan.
Conforming loans typically run 0.375% to 0.625% lower than jumbo. Rates vary by borrower profile and market conditions, so we shop both daily.
Yes, if your down payment is under 20%. You can avoid it with 20% down or by using a piggyback second mortgage structure.
21 days is standard. Automated underwriting and standardized guidelines make conforming loans the fastest mortgage product to close.
Sometimes, but we shop 200+ lenders including credit unions. We find the best rate across the wholesale market, which usually beats retail pricing.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.