Question 1

What is the conforming loan limit in San Benito County?

Accepted Answer

San Benito County uses the standard FHFA conforming limit — not a high-cost adjustment. Check current FHFA limits before finalizing your purchase price.

Question 2

Can I get a conforming loan with 5% down in Hollister?

Accepted Answer

Yes. Most conforming programs allow 5% down. You'll pay PMI until you reach 20% equity, then it cancels.

Question 3

How does my credit score affect my conforming rate?

Accepted Answer

Conforming pricing runs on a tiered grid. A 740+ score gets the best rate. Anything below 680 and you'll pay more. Rates vary by borrower profile.

Question 4

What income docs do conforming loans require?

Accepted Answer

W-2 earners need two years of returns and recent pay stubs. Self-employed borrowers need two years of tax returns plus a P&L statement.

Question 5

Is a conforming loan better than FHA for Hollister buyers?

Accepted Answer

Depends on your credit. Above 680, conforming usually wins on cost. Below that, FHA often prices better despite the lifetime MIP.

Question 6

What happens if my loan amount exceeds the conforming limit?

Accepted Answer

You'll need jumbo financing. Jumbo loans carry stricter underwriting and typically require larger reserves and higher credit scores.

Conforming Loans in Hollister, CA