Question 1

What is the conforming loan limit in Madera County?

Accepted Answer

Madera County follows the baseline conforming limit set by Fannie Mae and Freddie Mac. It is not a high-cost county, so no elevated limit applies.

Question 2

Can I get a conforming loan with less than 20% down?

Accepted Answer

Yes. You can put as little as 3% down on some conforming programs. PMI will apply until you reach 20% equity.

Question 3

What credit score do I need for a conforming loan in Madera?

Accepted Answer

Most lenders require a 620 minimum. Higher scores get better rates — 740+ puts you in the best pricing tier.

Question 4

Are conforming loans better than FHA for Madera buyers?

Accepted Answer

Often, yes — especially with 10%+ down. Conforming PMI can be removed; FHA mortgage insurance typically sticks for the life of the loan.

Question 5

How long does it take to close a conforming loan?

Accepted Answer

Typically 21 to 30 days with complete documentation. Delays usually come from appraisal or title, not underwriting.

Question 6

Can self-employed borrowers in Madera get conforming loans?

Accepted Answer

Yes, but lenders want two years of tax returns and a solid income history. Inconsistent income is the most common sticking point.

Conforming Loans in Madera, CA — Straightforward Financing