Question 1

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

Accepted Answer

Minimum is 620, but most lenders price aggressively at 740+. Lower scores mean higher rates and fees.

Question 2

Can I use rental income from a Laguna Beach vacation property to qualify?

Accepted Answer

It depends on occupancy classification. Lenders treat vacation rentals differently than primary or investment properties — documentation requirements vary.

Question 3

Do conventional loans work for Laguna Beach condos?

Accepted Answer

Standard conventional works for warrantable condos. Non-warrantable buildings require portfolio lenders outside conventional guidelines.

Question 4

How much do I need to put down on a conventional loan here?

Accepted Answer

As little as 3% on conforming loan amounts. Jumbo-priced properties typically need 10-20% down.

Question 5

Is an ARM a smart move in Laguna Beach right now?

Accepted Answer

If you plan to sell or refi within 5-7 years, an ARM can cut your rate meaningfully. Fixed rates are elevated as of April 2026.

Question 6

When does PMI go away on a conventional loan?

Accepted Answer

PMI cancels automatically when you reach 20% equity based on original value. You can also request removal if the property appreciates.

Conventional Loans in Laguna Beach, CA