Loading
in Larkspur, CA
Larkspur sits in one of California's most expensive counties. The loan you choose here directly affects your purchasing power and monthly cost.
Conventional and FHA loans serve different borrower profiles. Knowing the difference saves you money from day one.
Conventional loans aren't government-backed. Lenders take on the risk, so they set tighter standards — but reward qualified borrowers with better terms.
Put 20% down and you skip private mortgage insurance entirely. That's real monthly savings on a Marin County price point.
FHA loans are backed by the Federal Housing Administration. That backing lets lenders approve borrowers they'd reject on a conventional file.
You can qualify with a 580 credit score and 3.5% down. The tradeoff is mandatory mortgage insurance — both upfront and monthly.
Local decision guide
Use this comparison to weigh Conventional Loans and FHA Loans through local payment fit, eligibility, documentation, and timing before choosing a path in Larkspur.
Larkspur sits in one of California's most expensive counties. The loan you choose here directly affects your purchasing power and monthly cost.
Conventional and FHA loans serve different borrower profiles. Knowing the difference saves you money from day one.
Conventional loans aren't government-backed. Lenders take on the risk, so they set tighter standards — but reward qualified borrowers with better terms.
HousingWire flagged the 30-year fixed hitting 6.57% recently. At that rate, the cost gap between FHA and conventional mortgage insurance becomes the deciding factor.
Conventional PMI drops off once you hit 20% equity. FHA mortgage insurance typically stays for the life of the loan. On a Larkspur-priced home, that difference adds up fast.
FHA appraisals are stricter. Larkspur's older homes sometimes trigger repairs that kill FHA deals. Conventional appraisals focus on value, not condition checklists.
Strong credit and 10-20% saved? Conventional is almost always the better call. Lower long-term cost, fewer property restrictions, cleaner process.
Thin credit history or a smaller down payment? FHA gets you in the door. Just model out the lifetime MIP cost before you commit.
Rates vary by borrower profile and market conditions. Run both scenarios with actual numbers before deciding.
It depends on your credit and down payment. Conventional usually wins with 20% down because there's no mortgage insurance.
FHA has strict property condition requirements. Many fixer-uppers fail the appraisal, which can kill the deal.
Most lenders want 620 minimum. You'll get the best rates at 740 or higher.
On most FHA loans made after 2013, MIP stays for the life of the loan unless you put 10% down.
Only if the condo project is FHA-approved. Many Marin County HOAs are not on that approved list.
Conventional typically closes faster. FHA appraisal requirements add time, especially if repairs are flagged.