Question 1

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

Accepted Answer

Minimum is 620, but 740+ gets you the best pricing tiers. Below 700 and you'll pay more in rate or points.

Question 2

Can I buy a condo in La Habra with a conventional loan?

Accepted Answer

Yes, but the condo project must meet Fannie Mae or Freddie Mac approval standards. Check HOA finances and owner-occupancy rates first.

Question 3

How does PMI work on a conventional loan?

Accepted Answer

PMI is required when you put less than 20% down. It cancels automatically once your equity reaches 20%.

Question 4

Is conventional better than FHA for La Habra buyers?

Accepted Answer

For buyers with 680+ credit and 5%+ down, conventional usually wins on total cost. FHA makes more sense for lower credit profiles.

Question 5

What is the conforming loan limit for Orange County?

Accepted Answer

Orange County is a high-cost area with elevated conforming limits. Loans above that limit require jumbo financing with stricter guidelines.

Question 6

Can I use a conventional loan for an investment property in La Habra?

Accepted Answer

Yes. Expect a higher rate and 15–25% down requirement. Investment property pricing is always worse than owner-occupied.

Conventional Loans in La Habra, CA