Question 1

What is the conforming loan limit in Orange County?

Accepted Answer

Orange County qualifies as a high-cost area. The limit exceeds the national baseline, giving Brea buyers more purchasing power before needing jumbo financing.

Question 2

Can I get a conforming loan with 3% down in Brea?

Accepted Answer

Yes. Fannie Mae's HomeReady and Freddie Mac's Home Possible both allow 3% down. You'll pay PMI until you reach 20% equity.

Question 3

Do conforming loans work for condos in Brea?

Accepted Answer

Yes, but the condo project must be Fannie or Freddie approved. We verify this before you're under contract — not after.

Question 4

How does my credit score affect my conforming rate?

Accepted Answer

Conforming loans use risk-based pricing. A 740+ score gets the best rate. Dropping below 680 adds meaningful cost to your loan.

Question 5

Is a conforming loan better than FHA for Brea buyers?

Accepted Answer

Usually yes, if your score is above 680. Conforming loans drop PMI at 20% equity — FHA mortgage insurance often stays for the life of the loan.

Question 6

How fast do conforming loans close?

Accepted Answer

Typically 21 to 30 days with clean documentation. Conforming loans have standardized underwriting, which speeds things up versus non-QM or jumbo products.

Conforming Loans in Brea, CA — Rates That Work