Question 1

What is the conforming loan limit in Orange County?

Accepted Answer

Orange County qualifies for high-cost area limits set by Fannie Mae. These limits are higher than the national baseline and adjust annually.

Question 2

Can I use a conforming loan for a condo in Orange?

Accepted Answer

Yes. Condos must meet Fannie Mae project approval requirements. Most established Orange County condo projects clear that bar.

Question 3

What credit score gets me the best conforming rate?

Accepted Answer

740 and above puts you in the top pricing tier. Below 740, your rate adjusts upward in measurable steps.

Question 4

How does a conforming loan differ from a conventional loan?

Accepted Answer

All conforming loans are conventional, but not all conventional loans are conforming. Conforming means it meets Fannie or Freddie size and guideline limits.

Question 5

Is private mortgage insurance required on conforming loans?

Accepted Answer

Only if your down payment is under 20%. Unlike FHA, you can cancel PMI once you reach 20% equity.

Question 6

Should I lock my conforming rate now or float?

Accepted Answer

Rate volatility is real as of March 2026. Most purchase borrowers in Orange County should lock early. Floating adds risk with limited upside.

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