Question 1

What is the 2024 conforming loan limit in Rancho Palos Verdes?

Accepted Answer

The limit is $766,550 for LA County. Anything above requires jumbo financing with different qualification standards.

Question 2

Can I get a conforming loan with 5% down in RPV?

Accepted Answer

Yes, conforming loans allow 5% down for repeat buyers. First-time buyers can go as low as 3% down with PMI.

Question 3

Do landslide zones affect conforming loan approval?

Accepted Answer

Absolutely. Portuguese Bend and active slide areas face lender overlays. Some lenders won't touch these properties at all.

Question 4

How does my HOA affect conforming loan eligibility?

Accepted Answer

Lenders review HOA financials and litigation history. High fees also count against your debt-to-income ratio for qualification.

Question 5

Should I choose conforming or jumbo for an $800K RPV property?

Accepted Answer

You need jumbo financing above $766,550. Expect rate premiums of 0.25-0.5% compared to conforming products.

Question 6

What credit score do I need for best conforming rates in RPV?

Accepted Answer

Aim for 740 or higher. You'll qualify at 620, but rate adjustments below 740 cost you thousands over the loan term.

Conforming Loans in Rancho Palos Verdes: Navigate Coastal LA County Loan Limits