Question 1

What credit score do I need for a conventional loan in Novato?

Accepted Answer

Minimum is 620, but most Marin lenders price best above 740. Below 700, expect higher rates and stricter scrutiny.

Question 2

Do I need a jumbo loan to buy in Novato?

Accepted Answer

Not always. Marin County's conforming limit is higher than the national baseline. Check the current limit before assuming you need jumbo pricing.

Question 3

Can I avoid PMI on a conventional loan?

Accepted Answer

Yes — put down 20% and PMI never hits. You can also request removal once you reach 20% equity through appreciation or paydown.

Question 4

How does DTI affect my approval in Marin County?

Accepted Answer

Most conventional loans cap DTI at 45-50%. High Marin property taxes and HOA fees count against you, even with a strong income.

Question 5

Are condos in Novato eligible for conventional financing?

Accepted Answer

Only if the project is warrantable — meaning the HOA financials and owner-occupancy ratios meet Fannie Mae guidelines. We check this upfront.

Question 6

Why use a broker instead of a bank for a conventional loan?

Accepted Answer

Banks offer their own rates. We shop 200+ wholesale lenders to find who's pricing Novato loans most competitively on the day you lock.

Conventional Loans in Novato, CA — Competitive Rates, Real Flexibility