Question 1

What's the conforming loan limit in Larkspur?

Accepted Answer

$1,249,125 for single-family homes in Marin County for 2024. That limit applies to the base loan amount before any down payment.

Question 2

Can I use a conforming loan for a Larkspur condo?

Accepted Answer

Yes, most Larkspur condos fall under the conforming limit. The building must be on Fannie Mae's approved condo project list for financing.

Question 3

How much down payment do I need for a conforming loan?

Accepted Answer

3% minimum for first-time buyers, 5% for repeat buyers. Putting down 20% eliminates private mortgage insurance on your monthly payment.

Question 4

Do conforming loans require mortgage insurance in Larkspur?

Accepted Answer

Yes, below 20% down payment. PMI costs 0.3-1.5% of your loan amount annually depending on credit score and down payment size.

Question 5

What credit score do I need for a conforming loan?

Accepted Answer

620 minimum to qualify. 740+ gets you the best pricing tiers with the lowest interest rates available.

Conforming Loans in Larkspur: When Standard Fannie Mae Limits Work in Marin