Question 1

What is the conforming loan limit in San Bernardino County?

Accepted Answer

San Bernardino County uses the standard conforming limit set by Fannie Mae and Freddie Mac. Loans above that limit require jumbo financing with different guidelines.

Question 2

Can I put less than 20% down on a conforming loan in Rancho Cucamonga?

Accepted Answer

Yes. Some programs allow as little as 3% down. You'll pay PMI until you reach 20% equity — then it cancels.

Question 3

What credit score do I need for a conforming loan?

Accepted Answer

Lenders require a 620 minimum. Scores at 740 or above qualify for the best rate tiers available.

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 and Freddie's size and guideline limits.

Question 5

Is PMI required on a conforming loan?

Accepted Answer

PMI is required when your down payment is under 20%. It's not permanent — it cancels once your equity hits 20%.

Question 6

Why use a broker for a conforming loan instead of my bank?

Accepted Answer

Brokers access wholesale pricing across many lenders. That competition typically produces better rates than a single retail bank can offer.

Conforming Loans in Rancho Cucamonga