Question 1

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

Accepted Answer

Most lenders require 620 minimum. A 740+ score gets you the best rate tiers and lowest PMI costs.

Question 2

Can I put less than 20% down on a conventional loan?

Accepted Answer

Yes. Some programs allow as little as 3% down. You'll pay PMI until you reach 80% loan-to-value.

Question 3

How does conventional compare to FHA in Orange County?

Accepted Answer

Conventional PMI cancels at 80% LTV. FHA mortgage insurance stays for the life of most loans — that adds up fast.

Question 4

Do conventional loans cover condos in Los Alamitos?

Accepted Answer

Only warrantable condos qualify. The HOA financials and owner-occupancy ratios must meet Fannie Mae guidelines.

Question 5

What's the conforming loan limit for Orange County?

Accepted Answer

Orange County qualifies for higher-balance conforming limits. Ask us for the current limit — it changes annually.

Question 6

How long does a conventional loan take to close?

Accepted Answer

Typically 21-30 days for a clean file. Complex income documentation or condo approvals can add time.

Conventional Loans in Los Alamitos, CA