Loading
Loading
San Francisco is one of the most expensive markets in the country. Conventional loans here require sharp qualification — lenders have little room for borderline files.
HousingWire flagged a 10.4% drop in mortgage applications as the 30-year fixed hit 6.57%. For conventional borrowers in SF, that rate environment means your debt-to-income ratio matters more than ever.
620 (700+ preferred)
Min Credit Score
6.57%*
30-Yr Fixed (Recent)
3%
Min Down Payment
80% LTV
PMI Required Above
21-30 days
Avg Closing Timeline
Conventional Loans in San Francisco
Conventional loans require a minimum 620 credit score. In practice, most SF lenders want 700+ to offer competitive pricing.
You'll need at least 3% down, but putting down 20% avoids PMI — private mortgage insurance that adds to your monthly cost.
Local decision guide
Use this guide to connect conventional loans eligibility, lender expectations, and local market factors before comparing payment options in San Francisco.
San Francisco is one of the most expensive markets in the country. Conventional loans here require sharp qualification — lenders have little room for borderline files.
HousingWire flagged a 10.4% drop in mortgage applications as the 30-year fixed hit 6.57%. For conventional borrowers in SF, that rate environment means your debt-to-income ratio matters more than ever.
Conventional loans require a minimum 620 credit score. In practice, most SF lenders want 700+ to offer competitive pricing.
We work with 200+ wholesale lenders. That means we're not stuck with one bank's guidelines or rate sheet.
Conventional loans follow Fannie Mae and Freddie Mac rules. Every lender uses the same baseline — but pricing and overlays vary significantly.
Most SF buyers with strong W-2 income and good credit are solid conventional candidates. Self-employed buyers are trickier — two years of tax returns, and net income is what counts.
Rates vary by borrower profile and market conditions. A 740 score versus a 680 score can mean a meaningful rate difference. Work on your credit before you apply.
FHA loans allow lower credit scores but carry mortgage insurance for the life of the loan. Conventional PMI drops off once you hit 20% equity.
SF prices push many buyers into jumbo territory. If your loan exceeds the conforming limit, you're looking at jumbo guidelines — stricter reserves, higher credit bar.
San Francisco County's high property values mean many purchases hit the conforming loan limit fast. Know the current limit before you start shopping.
Condos in SF can have HOA issues that affect conventional approval. Warrantability — whether the condo project meets Fannie/Freddie standards — is a real hurdle here.
Minimum is 620, but most competitive SF lenders want 700 or higher. Better scores mean better rates.
Yes, but the condo project must be Fannie Mae or Freddie Mac warrantable. Many SF condos don't pass that test.
As little as 3%, but 20% avoids PMI. In SF, that 20% is a significant dollar amount given home prices.
Conforming conventional loans stay within Fannie/Freddie limits. Loans above that limit are jumbo and require stricter qualifications.
For buyers with 700+ credit and 10% or more down, conventional usually wins. FHA MIP lasts longer and costs more over time.
Typically 21-30 days with complete documentation. SF sellers move fast — get pre-approved before you make offers.