Loading
Westlake Village sits at an awkward price point for conforming loans. Most single-family homes here push past the $1,249,125 loan limit that defines conforming territory in 2026.
You'll find conforming deals on condos, townhomes, and smaller single-family properties. But expect to pair this loan with a larger down payment if you're targeting a detached home in the Westlake area.
This isn't a bad thing. It just means you need to know the cutoff before you start shopping.
Conforming Loans in Westlake Village
Conforming loans require 620 minimum credit for most lenders. You'll see better rates at 740+, and the difference can be half a point or more.
Down payment starts at 3% for first-time buyers, 5% for repeat purchasers. Debt-to-income caps at 50% in most cases, though 43% or lower gets you the cleanest approvals.
Rates vary by borrower profile and market conditions. Income documentation follows standard W-2 and tax return requirements — no bank statement options here.
Every lender offers conforming loans. That's the problem — pricing spreads between lenders can hit 0.375% or more on the same profile.
Banks advertise low rates but layer on fees. Credit unions price tight for members but move slowly. Direct lenders underwrite faster but rarely beat broker pricing.
We shop your scenario across 200+ wholesale lenders. This matters in Westlake where you're likely bumping the loan limit and need every pricing advantage.
Most Westlake buyers I talk to assume they need jumbo financing. Then we structure the deal with 20-25% down and keep them conforming.
Why? Conforming rates typically run 0.25-0.50% below jumbo. On a $750,000 loan that's $1,500+ annual savings. Do the math over seven years.
The other move: buying points makes more sense on conforming loans. You're locking in government-backed pricing that won't disappear if lending standards tighten.
If your loan exceeds $832,750, you're in jumbo territory. Expect 20% down minimum and tighter credit requirements. Jumbo rates aren't terrible right now but they move independently of conforming pricing.
FHA loans allow 3.5% down but cap at $644,000 in LA County. That eliminates most Westlake properties and adds mortgage insurance you can't remove without refinancing.
ARMs work on conforming loans if you expect to move or refi within 5-7 years. Initial rates run about 0.50% below 30-year fixed. Just understand what you're timing.
Westlake Village straddles LA and Ventura counties. The conforming limit is identical in both, but some lenders treat Ventura as lower-risk for pricing purposes.
Property taxes here run about 1.1% effective rate. That impacts your debt ratios more than in cheaper areas. We see buyers qualify for less than expected because of the tax load.
HOA fees on condos and townhomes add another layer. Lenders count 100% of HOA against your ratios, so a $400 monthly fee reduces your buying power by roughly $70,000.
Appraisals move fast in Westlake. The market has enough comp density that you won't wait weeks for valuation like you might in rural areas.
$832,750 for single-unit properties in 2024. This applies to both LA County and Ventura County sides of Westlake Village.
Yes, if the total loan stays under $832,750. Condos fit conforming limits better than single-family homes in this market.
No, you can put down as little as 3-5%. But you'll pay mortgage insurance until you reach 20% equity through payments or appreciation.
Typically 0.25-0.50% lower. On a $750,000 loan that saves you $150-300 monthly, which compounds over the life of the loan.
740 or higher gets you top-tier pricing. You'll qualify at 620, but expect to pay 0.50-0.75% more in rate.
Yes, but you'll need a substantial down payment since most SFRs exceed $832,750. Plan on 25-30% down to stay conforming.