Question 1

What's the conforming loan limit in Palm Desert?

Accepted Answer

$832,750 for single-family homes in Riverside County. This limit changes annually based on home price appreciation tracked by federal housing agencies.

Question 2

Can I use a conforming loan for a condo in Palm Desert?

Accepted Answer

Yes, if the complex meets Fannie Mae warrantability standards. We check HOA certification, owner-occupancy ratios, and litigation status before you submit an offer.

Question 3

How much down payment do I need for a conforming loan?

Accepted Answer

3% for primary homes, 15% for investment properties or second homes. Higher down payments unlock better rates and eliminate private mortgage insurance faster.

Question 4

What credit score gets the best conforming loan rates?

Accepted Answer

740 or higher qualifies for top-tier pricing. Every 20-point drop below that threshold costs roughly 0.25% in rate or equivalent upfront points.

Question 5

How long does conforming loan approval take in Palm Desert?

Accepted Answer

Full underwrite takes 3-5 business days with clean documentation. Condo complexes add another week for HOA review and warrantability checks.

Question 6

Do conforming loans work for desert investment properties?

Accepted Answer

Absolutely, with 15% down and stronger reserves. Lenders cap total financed properties at 10, so portfolio size matters for desert investors building rental inventory.

Conforming Loans in Palm Desert: Access the Lowest Rates in the Desert