Question 1

What is the conforming loan limit in San Bernardino County?

Accepted Answer

San Bernardino County uses the standard conforming limit set annually by the FHFA. Check the current limit before assuming your purchase price qualifies.

Question 2

Can I use a conforming loan for a Big Bear vacation home?

Accepted Answer

Yes, but second-home pricing adds to your rate. Lenders also require at least 10% down on vacation properties.

Question 3

Does short-term rental income help me qualify?

Accepted Answer

It depends on the lender. Some count documented STR income. Others require two years of Schedule E history before touching it.

Question 4

Why is my rate higher than what I see advertised?

Accepted Answer

Advertised rates assume primary residence, 780 credit, and 20% down. Second-home and lower credit adjustments raise your actual rate.

Question 5

How does wildfire risk affect my conforming loan?

Accepted Answer

Wildfire zone properties require hazard insurance lenders will accept. Missing coverage at closing stops the loan.

Question 6

Is a conforming loan better than FHA in Big Bear Lake?

Accepted Answer

For buyers with 620+ credit and 5%+ down, conforming usually beats FHA on total cost. FHA mortgage insurance adds monthly expense.

Conforming Loans in Big Bear Lake, CA