Question 1

What credit score do I need for a conventional loan in SF?

Accepted Answer

Minimum is 620, but most competitive SF lenders want 700 or higher. Better scores mean better rates.

Question 2

Can I buy a condo in San Francisco with a conventional loan?

Accepted Answer

Yes, but the condo project must be Fannie Mae or Freddie Mac warrantable. Many SF condos don't pass that test.

Question 3

How much do I need to put down on a conventional loan?

Accepted Answer

As little as 3%, but 20% avoids PMI. In SF, that 20% is a significant dollar amount given home prices.

Question 4

What's the difference between conforming and jumbo in San Francisco?

Accepted Answer

Conforming conventional loans stay within Fannie/Freddie limits. Loans above that limit are jumbo and require stricter qualifications.

Question 5

Is a conventional loan better than FHA in San Francisco?

Accepted Answer

For buyers with 700+ credit and 10% or more down, conventional usually wins. FHA MIP lasts longer and costs more over time.

Question 6

How long does conventional loan approval take in San Francisco?

Accepted Answer

Typically 21-30 days with complete documentation. SF sellers move fast — get pre-approved before you make offers.

Conventional Loans in San Francisco: What Actually Gets You Approved