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Conforming Loans in San Dimas
San Dimas sits in a sweet spot for conforming loans. Most single-family homes fall under the high-cost limit for Los Angeles County, giving you access to the best rates and lowest down payments.
Fannie Mae and Freddie Mac set the rules here, which means predictable underwriting. Lenders compete hard for conforming business, so you benefit from tight pricing and faster closings than jumbo products.
You need a 620 credit score minimum, though 740+ unlocks the best pricing. Down payments start at 3% for first-time buyers and 5% for repeat purchasers.
Debt-to-income caps at 50% with most lenders. Two years of steady employment matters more than the size of your income. Self-employed borrowers qualify using tax returns, not bank statements.
Every lender in our network offers conforming products, but pricing spreads 0.25-0.50% between best and worst. We shop 200+ wholesale sources to find who's buying conforming paper most aggressively each day.
Credit unions sometimes beat wholesale pricing for perfect borrowers. But borrowers with 680 credit or high debt ratios often get better execution through our wholesale channels where underwriters know how to structure approvals.
Conforming loans work best when you fit the mold: documented income, steady employment, reserves in the bank. The tighter your profile matches agency guidelines, the better your rate.
I see borrowers leave money on the table by going direct to banks. A 0.375% rate difference on a $700,000 loan costs you $2,625 annually. Over five years before you refi? That's $13,125 you didn't need to spend.
Conforming beats FHA on rate and cost for anyone with 10% down and 680+ credit. You avoid upfront mortgage insurance and pay less monthly. Jumbo loans kick in above the conforming limit with stricter credit requirements.
ARMs make sense if you'll move within seven years, but most San Dimas buyers plan to stay longer. The 30-year fixed conforming loan gives you stability without gambling on future rate movements.
San Dimas home prices generally stay within conforming limits, unlike nearby La Verne or Glendora where you hit jumbo territory more often. This keeps your costs down and options open.
The city attracts families planning to stay put, which aligns perfectly with 30-year fixed conforming products. Schools and stability matter here, so matching your loan term to your timeline makes sense.
Los Angeles County uses high-cost limits. For 2024, single-family conforming loans max at $1,149,825, well above most San Dimas home prices.
Yes, conventional conforming allows 5% down for repeat purchasers. You'll pay private mortgage insurance until you hit 20% equity.
Scores above 740 get best pricing. Each 20-point drop below that costs roughly 0.25% in rate until you hit the 620 floor.
Usually yes. Automated underwriting approves most conforming files in minutes. Jumbos require manual review and more documentation, adding 5-10 days.
Absolutely. You need two years of tax returns showing consistent income. Self-employed borrowers get the same rates as W-2 earners with similar credit profiles.
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.