Question 1

What is the conforming loan limit in Orange County for 2026?

Accepted Answer

Orange County is a high-cost area. The 2026 conforming limit is $1,149,825, which covers most Mission Viejo purchases.

Question 2

Do I need 20% down for a conforming loan in Mission Viejo?

Accepted Answer

No. First-time buyers can put down 3%. You'll pay PMI until you reach 20% equity, then it drops off.

Question 3

How does my credit score affect my conforming loan rate?

Accepted Answer

Significantly. Scores below 680 trigger pricing adjustments. The best rates go to borrowers at 740 and above.

Question 4

Can self-employed borrowers use a conforming loan?

Accepted Answer

Yes, but lenders require two years of tax returns. Net income after write-offs drives your qualifying number — not gross revenue.

Question 5

Is a conforming loan better than FHA for Mission Viejo buyers?

Accepted Answer

For buyers with 700+ credit and 5%+ down, conforming usually wins. FHA MIP sticks around longer and costs more over time.

Question 6

How do HOA fees affect my conforming loan qualification?

Accepted Answer

Lenders add HOA fees to your monthly debt obligations. Higher HOAs lower your maximum purchase price.

Conforming Loans in Mission Viejo, CA