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Novato sits at the northern end of Marin County — one of California's priciest markets. Conventional loans are the workhorse here for buyers with solid credit and real down payment funds.
HousingWire flagged the 30-year fixed hitting 6.57% with applications dropping sharply. For Novato buyers, that makes rate shopping across lenders more important than ever. Rates vary by borrower profile and market conditions.
620
Min Credit Score
3%
Min Down Payment
20% Down
PMI-Free Threshold
45–50%
Max DTI (Typical)
6.57% (Apr '26)
30-Yr Fixed (Ref.)
Conventional Loans in Novato
Most conventional loans require a 620 minimum credit score. But in Marin, where prices are high and competition is stiff, lenders reward scores above 740 with meaningfully better rates.
Down payment starts at 3% for first-time buyers. Put down 20% and you skip private mortgage insurance — that's a real monthly savings in a high-price market like Novato.
Local decision guide
Use this guide to connect conventional loans eligibility, lender expectations, and local market factors before comparing payment options in Novato.
Novato sits at the northern end of Marin County — one of California's priciest markets. Conventional loans are the workhorse here for buyers with solid credit and real down payment funds.
HousingWire flagged the 30-year fixed hitting 6.57% with applications dropping sharply. For Novato buyers, that makes rate shopping across lenders more important than ever. Rates vary by borrower profile and market conditions.
Most conventional loans require a 620 minimum credit score. But in Marin, where prices are high and competition is stiff, lenders reward scores above 740 with meaningfully better rates.
Retail banks quote one rate. We shop across 200+ wholesale lenders to find who's pricing Marin County conventional loans most aggressively right now.
Not every lender treats Novato's market the same way. Some price condos differently. Some have overlays on DTI. We know which ones don't.
Novato buyers often assume they need a jumbo loan. Check the conforming limit for Marin County first — you may fit under it and get better pricing than you expect.
Debt-to-income ratio trips up more Marin buyers than credit does. High Bay Area salaries help, but high property taxes and HOA dues count against you too.
FHA loans have lower credit thresholds but come with permanent mortgage insurance and stricter property condition rules. Conventional drops PMI once you hit 20% equity.
If your purchase price clears Marin's conforming limit, a jumbo loan takes over. Jumbo rates and reserves requirements are stricter. Conventional is simpler when you can make it work.
Marin County's conforming loan limit is higher than the national baseline. That means more Novato buyers can access conventional pricing instead of jumping to jumbo.
Novato has a mix of single-family homes, condos, and planned developments. Lender guidelines on HOA-governed properties vary — warrantability matters for conventional approval.
Minimum is 620, but most Marin lenders price best above 740. Below 700, expect higher rates and stricter scrutiny.
Not always. Marin County's conforming limit is higher than the national baseline. Check the current limit before assuming you need jumbo pricing.
Yes — put down 20% and PMI never hits. You can also request removal once you reach 20% equity through appreciation or paydown.
Most conventional loans cap DTI at 45-50%. High Marin property taxes and HOA fees count against you, even with a strong income.
Only if the project is warrantable — meaning the HOA financials and owner-occupancy ratios meet Fannie Mae guidelines. We check this upfront.
Banks offer their own rates. We shop 200+ wholesale lenders to find who's pricing Novato loans most competitively on the day you lock.