Question 1

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

Accepted Answer

Lenders require a 620 minimum. Aim for 700+ to access competitive rates in Irvine's price range.

Question 2

Can I avoid PMI with a conventional loan?

Accepted Answer

Yes. Put 20% down at closing and PMI never applies. You can also cancel it once equity reaches 20%.

Question 3

How do HOA fees affect my conventional loan approval in Irvine?

Accepted Answer

Lenders add HOA dues to your monthly debt load. High fees in Irvine's planned communities can lower your max loan amount.

Question 4

Should I choose a fixed rate or ARM for an Irvine purchase?

Accepted Answer

It depends on how long you'll hold the property. ARMs offer lower initial rates but adjust after the fixed period ends.

Question 5

What is the conforming loan limit for Orange County?

Accepted Answer

Orange County qualifies for high-cost conforming limits. Ask us for the current cap before assuming you need a jumbo loan.

Conventional Loans in Irvine, CA