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Conforming Loans in San Fernando
San Fernando sits in Los Angeles County where conforming loans cap at $806,500 in 2025. Most homes here fall under that threshold, making conforming loans the default choice for buyers.
You get better rates with conforming loans than jumbo products because Fannie Mae and Freddie Mac back them. That federal backing means lenders compete harder on price.
You need 620 credit minimum, but 740+ gets you the best pricing. Most lenders want 3% down for primary homes, though 5% is safer for smoother underwriting.
Your debt-to-income ratio can't exceed 50% with most lenders. That includes your new mortgage payment plus car loans, student debt, and credit cards.
We shop 200+ wholesale lenders for conforming loans. Rate spreads between best and worst lenders hit 0.5% on identical borrower profiles—that's $240 monthly on a $600,000 loan.
Credit unions price well but move slow. Direct lenders close fast but charge more. Wholesale channels give us both speed and pricing since we're placing volume.
Most San Fernando buyers don't realize their loan is conforming until we run numbers. They assume anything in LA County needs jumbo pricing, which costs them quotes.
Lender overlays matter more than published guidelines. One bank wants 700 credit for condos while another approves at 660. We know which underwriters flex where.
FHA loans require 3.5% down versus 3% conforming, but you pay mortgage insurance for the loan's life. Conforming MI drops at 78% loan-to-value automatically.
Jumbo loans start where conforming caps end. If you're buying above $806,500, expect 10-20% down and rates 0.25-0.75% higher depending on your credit profile.
San Fernando's housing stock includes older properties that need appraisal attention. Deferred maintenance kills deals when appraisers flag safety issues like electrical or foundation.
Property tax transfers through Prop 13 affect buying strategy but not loan approval. Your payment stays the same regardless of assessed value quirks.
$806,500 for single-family homes in Los Angeles County. Anything above that requires jumbo financing with different terms and pricing.
Yes, conforming loans allow 3% down for primary residences. You'll pay private mortgage insurance until you reach 78% loan-to-value through payments or appreciation.
We close most conforming loans in 21-25 days with clean documentation. Delays happen when appraisals flag property issues or employment verification drags.
Usually yes if your credit exceeds 680. FHA beats conforming rates below 660 credit, but you pay mortgage insurance for the loan's entire term.
740 or higher unlocks top-tier pricing. Each 20-point drop below that costs roughly 0.25% in rate or equivalent points to buy down.
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.