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Conforming Loans in San Juan Bautista
San Juan Bautista sits in San Benito County, where most properties fall comfortably under conforming loan limits. The 2024 limit is $766,550 for single-family homes in this area.
This historic town attracts buyers who value small-town character without the premium pricing of nearby coastal markets. Conforming loans typically offer the lowest rates available for qualified borrowers.
You need 620 minimum credit for most conforming loans, though 740+ unlocks best pricing. Down payments start at 3% for first-time buyers, 5% for repeat purchasers.
Debt-to-income ratios max out at 50% with strong credit and reserves. Full income documentation required—W-2s, tax returns, and pay stubs for the past two years.
Private mortgage insurance applies below 20% down. Rates vary by borrower profile and market conditions, but conforming loans beat government-backed options for well-qualified buyers.
Every major lender offers conforming loans since Fannie and Freddie buy them on the secondary market. This competition drives rates down for borrowers who qualify.
We shop your scenario across 200+ wholesale lenders to find rate advantages that retail banks can't match. Quarter-point differences add up over 30 years.
Credit unions sometimes edge out wholesale pricing, but their underwriting moves slower. We close most conforming loans in 21 days with the right lender match.
San Juan Bautista buyers often ask about FHA loans for the lower down payment. Stop. If you have 620+ credit and 5% down, conforming beats FHA every time.
FHA charges upfront and monthly mortgage insurance that never drops off. Conforming PMI cancels at 78% loan-to-value automatically.
I see buyers leave thousands on the table choosing FHA when they qualify for conforming. Run both scenarios—the lifetime savings shock most people.
Properties above $766,550 require jumbo financing with stricter standards and higher rates. The conforming limit creates a natural sweet spot for San Benito County buyers.
Adjustable-rate mortgages offer lower initial rates but carry risk after the fixed period ends. Most buyers in this market choose 30-year fixed conforming loans for stability.
Conventional 97 programs allow 3% down for first-timers—same backing as larger down payments. This beats FHA's upfront insurance premium and ongoing costs.
San Juan Bautista's historic district homes sometimes need appraisal nuance. Conforming guidelines allow for comparable sales from neighboring communities when local inventory runs thin.
Water and septic issues matter here. Lenders require well flow tests and septic certifications that can delay closing if sellers don't prep early.
The Mission brings tourism traffic but doesn't affect residential lending. Properties near Highway 156 appraise fine—proximity to major routes actually helps values in rural counties.
$766,550 for single-family homes in San Benito County. Properties above this amount require jumbo financing with different qualification standards.
Yes. Conventional loans allow 5% down for repeat buyers, 3% for first-timers. PMI applies but cancels automatically at 78% loan-to-value.
740+ scores unlock best pricing. Every 20-point drop below that costs roughly 0.25% in rate, which compounds significantly over 30 years.
Yes, as long as they're primarily residential. Appraisers pull comps from surrounding areas when needed since the town's inventory is limited.
No upfront mortgage insurance premium and PMI that cancels automatically. FHA charges both upfront and lifetime monthly insurance regardless of equity.
Most close in 21 days with clean documentation. Well and septic requirements can add a week if sellers haven't completed inspections early.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.