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Conforming Loans in Palmdale
Palmdale sits well below the 2024 conforming loan limit of $766,550 for Los Angeles County. Most homes here qualify for conforming financing, which means better rates than jumbo products.
Antelope Valley pricing makes conforming loans the default choice for most buyers. You won't need jumbo underwriting for typical single-family homes in established neighborhoods.
You need 620 minimum credit for conforming approval, though 680+ unlocks better pricing. Down payment starts at 3% for first-time buyers, 5% for repeat buyers.
Debt-to-income caps at 50% with strong compensating factors. Lenders want two years of stable employment and documented income from W-2s, tax returns, or both.
Every major lender offers conforming products because Fannie and Freddie buy these loans. The competition keeps rates tight, but pricing varies by 0.25% to 0.50% between lenders on the same day.
We check rates across 200+ wholesale lenders daily. That pricing spread matters on a $400,000 loan—it's the difference between $2,200 and $2,300 monthly for the same borrower profile.
Palmdale borrowers with 5% down often choose conforming over FHA because PMI drops off at 20% equity. FHA mortgage insurance sticks for the loan life on deals closed after 2013.
If you're putting down 10% or more, conforming beats FHA on both rate and monthly cost. The only time FHA makes sense here is when credit sits below 640 or DTI pushes past 45%.
Conforming loans cost less than FHA when your credit exceeds 680. You skip the 1.75% upfront mortgage insurance fee that FHA charges, plus monthly PMI rates run lower.
Jumbo loans kick in above $766,550 in LA County. They require 10% down minimum and 700+ credit. If your purchase price creeps toward that limit, lock conforming terms before you cross it.
Palmdale's aerospace employment base means many borrowers carry W-2 income that conforming underwriting handles easily. Defense contractor pay with overtime needs documentation but processes smoothly.
New construction in west Palmdale qualifies for conforming financing without appraisal issues. Older homes near Palmdale Boulevard sometimes need repair work before closing, but that's standard anywhere.
$766,550 for single-family homes in Los Angeles County. This covers the vast majority of Palmdale inventory without needing jumbo financing.
Yes, once you hit 20% equity through payments or appreciation. FHA loans closed after 2013 carry mortgage insurance for life instead.
3% if you're a first-time buyer, 5% for repeat buyers. Putting down 20% eliminates PMI entirely.
Absolutely. New builds in west Palmdale neighborhoods qualify easily and appraisals come in clean on tract homes.
740+ unlocks top-tier pricing. You'll qualify at 620, but every 20 points above that improves your rate.
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.