Question 1

What is the conforming loan limit in Merced County?

Accepted Answer

Merced County uses the standard conforming limit set by Fannie Mae and Freddie Mac. Most Gustine purchases fall comfortably under it.

Question 2

Can I use a conforming loan on a rural property in Gustine?

Accepted Answer

Yes, but the property must meet Fannie Mae condition standards. Lenders scrutinize rural properties more than urban ones.

Question 3

What credit score do I need for a conforming loan?

Accepted Answer

You need at least 620 to qualify. Scores above 740 get the best rate tiers available.

Question 4

How much do I need to put down?

Accepted Answer

Conforming loans allow as little as 3% down for qualified buyers. Put down 20% and you skip PMI entirely.

Question 5

Are rates different in Gustine compared to bigger California cities?

Accepted Answer

Conforming rates are set at the loan level, not the city level. Your credit, down payment, and loan size drive your rate.

Question 6

Can seasonal farm workers qualify for a conforming loan?

Accepted Answer

Possibly, but you need two full years of documented income. A broker can help structure the file correctly.

Conforming Loans in Gustine, CA — Straightforward Financing for the Central Valley