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Novato sits in Marin County, one of the priciest markets in the Bay Area. Conforming loans cover a specific price ceiling — anything above it pushes you into jumbo territory.
HousingWire flagged a sharp drop in mortgage applications as the 30-year fixed hit 6.57%. For Novato buyers, that rate environment makes lender shopping more important than ever. Rates vary by borrower profile and market conditions.
6.57% (Apr 2026)
30-Year Fixed Rate
620
Min Credit Score
3%
Min Down Payment
High-Balance Available
Loan Type
45%
Max DTI
Conforming Loans in Novato
Conforming loans follow Fannie Mae and Freddie Mac guidelines. Most lenders want a 620 minimum credit score, but competitive rates start around 740.
Debt-to-income ratio — that's your monthly debts divided by gross income — needs to stay under 45% for most conforming approvals. Your down payment can be as low as 3% with the right program.
Local decision guide
Use this guide to connect conforming loans eligibility, lender expectations, and local market factors before comparing payment options in Novato.
Novato sits in Marin County, one of the priciest markets in the Bay Area. Conforming loans cover a specific price ceiling — anything above it pushes you into jumbo territory.
HousingWire flagged a sharp drop in mortgage applications as the 30-year fixed hit 6.57%. For Novato buyers, that rate environment makes lender shopping more important than ever. Rates vary by borrower profile and market conditions.
Conforming loans follow Fannie Mae and Freddie Mac guidelines. Most lenders want a 620 minimum credit score, but competitive rates start around 740.
Conforming loans are the most liquid product in the mortgage market. That means hundreds of wholesale lenders actively compete for this business.
At SRK CAPITAL, we run your scenario across 200+ wholesale lenders. Retail banks quote one rate. We find where conforming pricing is actually tightest for your profile.
The biggest mistake Novato buyers make: assuming conforming is conforming everywhere. Pricing adjustments for condos, second homes, and high-balance loans add up fast.
High-balance conforming limits apply in Marin County. That keeps more Novato buyers in conforming — and out of jumbo — where guidelines get stricter and reserve requirements jump.
FHA loans let you go down to a 580 score, but you pay mortgage insurance for life in many cases. Conforming drops that insurance once you hit 20% equity.
Jumbo loans cover higher price points but demand stricter income docs, larger reserves, and tighter DTI. If your purchase price fits in conforming, stay there.
Marin County qualifies for high-balance conforming limits set by FHFA. That's a meaningful advantage for Novato buyers — your loan can be larger without crossing into jumbo.
Novato has a mix of single-family homes, condos, and planned developments. Lenders treat each property type differently on conforming loans. Warrantability matters for condos — not every complex qualifies.
Marin County falls under FHFA high-balance limits, which exceed the national baseline. Check current FHFA limits — they adjust annually.
No. Conforming loans allow as little as 3% down. Under 20% means you'll pay PMI until you reach that equity threshold.
Yes, but the condo project must be warrantable — meaning it meets Fannie Mae or Freddie Mac approval standards. Not all complexes qualify.
All conforming loans are conventional, but not all conventional loans are conforming. Jumbo loans are conventional but exceed conforming limits.
Aim for 740 or above. Scores below that trigger pricing adjustments that raise your rate meaningfully.
Depends on how long you plan to stay. If you're in Novato for 5–7 years, an ARM may price better. A fixed conforming loan gives you long-term payment certainty.