Question 1

What is the conforming loan limit in Madera County?

Accepted Answer

Madera County uses the standard FHFA limit, not a high-cost area limit. Check FHFA's current table — limits adjust annually.

Question 2

Can I use a conforming loan for a home in Chowchilla?

Accepted Answer

Yes, as long as the purchase price stays under the county limit. Most Chowchilla properties fall comfortably within that range.

Question 3

Do I need perfect credit for a conforming loan?

Accepted Answer

No. Lenders require a 620 minimum score. Scores above 740 earn the best pricing on rates and PMI.

Question 4

How long does a conforming loan take to close?

Accepted Answer

Clean files with W-2 income typically close in 21 to 30 days. Self-employed borrowers may need a few extra days for tax return review.

Question 5

Can I remove PMI on a conforming loan?

Accepted Answer

Yes. Once you reach 20% equity, you can request PMI cancellation. This is a key advantage over FHA loans.

Conforming Loans in Chowchilla, CA