Question 1

What is the conforming loan limit in Merced County?

Accepted Answer

Merced County follows the standard conforming limit set by FHFA each year. Most Dos Palos homes price well under that ceiling.

Question 2

Can I use a conforming loan on a property with farm land?

Accepted Answer

It depends on the acreage and how the property is classified. Lenders may require the land value be separated from the home value.

Question 3

How is a conforming loan different from a conventional loan?

Accepted Answer

All conforming loans are conventional, but not all conventional loans are conforming. Conforming means the loan meets Fannie Mae and Freddie Mac size limits.

Question 4

What credit score do I need in Dos Palos?

Accepted Answer

Most conforming lenders require at least 620. Scores above 740 get the sharpest rates and lowest fees.

Question 5

Do I need 20% down for a conforming loan?

Accepted Answer

No. You can put down as little as 3% on a primary residence. Below 20%, you'll pay PMI until you reach that equity threshold.

Conforming Loans in Dos Palos, CA