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Poway sits in one of San Diego County's most stable submarkets. Conforming loans are the workhorse here for buyers with solid credit and steady income.
HousingWire flagged the 30-year fixed hitting 6.57% with applications dropping sharply — conforming borrowers in Poway feel that directly. Rate sensitivity matters when prices are high.
620
Min Credit Score
6.57%*
30-Yr Fixed (Recent)
3%
Min Down Payment
45%
Max DTI
21–30 days
Est. Close Time
Conforming Loans in Poway
Most conforming approvals need a 620 minimum credit score. Realistically, you want 700+ to get competitive pricing.
Debt-to-income ratio — what you owe monthly versus what you earn — needs to stay under 45%. Strong reserves help push borderline files through.
Local decision guide
Use this guide to connect conforming loans eligibility, lender expectations, and local market factors before comparing payment options in Poway.
Poway sits in one of San Diego County's most stable submarkets. Conforming loans are the workhorse here for buyers with solid credit and steady income.
HousingWire flagged the 30-year fixed hitting 6.57% with applications dropping sharply — conforming borrowers in Poway feel that directly. Rate sensitivity matters when prices are high.
Most conforming approvals need a 620 minimum credit score. Realistically, you want 700+ to get competitive pricing.
We shop conforming loans across 200+ wholesale lenders. Retail banks quote one rate. We find where pricing is tightest that week.
Conforming loans trade on the secondary market, so lender pricing shifts daily. Timing your lock matters as much as which lender you pick.
Poway buyers often land right at the conforming limit. Know that number before you make an offer — going $1 over means jumbo pricing.
Conforming loans close faster than jumbo. In a competitive Poway offer situation, that speed is a real advantage over buyers using portfolio products.
FHA gets you in with 580 credit and 3.5% down. But FHA carries mortgage insurance for the life of the loan in most cases. Conforming PMI is temporary.
Jumbo loans cover higher amounts but require stronger reserves and tighter underwriting. If your purchase fits conforming limits, stay in conforming — the pricing is better.
San Diego County's conforming loan limit is higher than most of the country. That's a direct benefit for Poway buyers — more purchase power without jumbo friction.
Poway properties include larger lots and custom builds. Appraisals on unique homes can come in conservative. Have a backup plan if the appraisal misses your contract price.
San Diego County qualifies for a higher-cost area limit set by Fannie Mae and Freddie Mac. Confirm the exact current limit with us before writing an offer.
No. Some conforming programs allow as little as 3% down. You'll pay PMI until you reach 20% equity, then you can cancel it.
All conforming loans are conventional, but not all conventional loans are conforming. Conforming just means the loan meets Fannie and Freddie's size and guideline limits.
Yes, but underwriting is stricter. You'll need two years of tax returns and your net income — not gross — is what qualifies you.
Pricing improves noticeably at 740 and above. Below 700, expect rate adjustments that add real cost to your monthly payment.
Typically 21 to 30 days with clean documentation. Appraisal turnaround in San Diego can add time if the market is busy.