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Conforming Loans in Long Beach
Most Long Beach homes under the conforming limit qualify for lower rates than jumbo financing. The 2025 conforming limit in Los Angeles County is $806,500 for single-family homes.
Long Beach neighborhoods from Belmont Shore to Bixby Knolls fall comfortably under this threshold. Borrowers here get the best pricing because lenders can sell these loans to Fannie Mae or Freddie Mac.
You need 620 credit for conventional conforming loans, though 740+ unlocks the best pricing. Down payment starts at 3% for first-time buyers and 5% for repeat purchasers.
Debt-to-income ratios max out at 50% with strong compensating factors. Most lenders want two years of steady employment and verifiable income through W-2s or tax returns.
SRK Capital shops 200+ wholesale lenders who compete for conforming business. This isn't one bank offering one rate—it's comparing pricing from credit unions to national lenders.
Rate differences of 0.25% to 0.5% are common between lenders on the same day. A broker running your scenario across multiple investors finds money most borrowers leave on the table.
Long Beach buyers often assume they need FHA financing when conforming conventional works better. No upfront mortgage insurance premium and lower monthly MI than FHA makes conventional cheaper long-term.
We see borrowers with 680 credit choosing FHA because their bank only quoted that option. Running both programs side-by-side shows conventional saves $150-$300 monthly once you factor total insurance costs.
Conforming loans cost less than jumbo financing because government-sponsored enterprises buy them. Rates typically run 0.25% to 0.75% lower than jumbo for the same borrower profile.
FHA loans allow lower credit scores but charge higher insurance. If your credit exceeds 680 and you can put 5% down, conforming conventional almost always wins on total cost.
Long Beach condo buyers face extra scrutiny on conforming loans. Lenders check whether the complex is Fannie Mae or Freddie Mac approved—many wartime-era buildings near the beach don't qualify.
Properties in flood zones near Alamitos Bay require flood insurance but still qualify for conforming financing. Budget an extra $80-$200 monthly for coverage depending on elevation and proximity to water.
$806,500 for single-family homes in Los Angeles County. This applies across all Long Beach ZIP codes regardless of neighborhood.
Yes, if the complex is Fannie Mae or Freddie Mac approved. Many older buildings near the beach don't meet approval standards, requiring alternative financing.
First-time buyers start at 3% down. Repeat purchasers need 5% minimum, though 20% down eliminates mortgage insurance entirely.
Yes, with 15% down minimum and higher rates than primary residence loans. Rental income can offset your mortgage payment in debt-to-income calculations.
Lower mortgage insurance and no upfront premium saves money long-term. If you have 680+ credit and 5% down, conforming costs less monthly.
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.