Question 1

What's the conforming loan limit in Daly City?

Accepted Answer

San Mateo County uses high-cost area limits set annually by FHFA. Contact us for current limits as they adjust each year based on home price trends.

Question 2

Can I use a conforming loan for a Daly City investment property?

Accepted Answer

Yes, conforming loans work for investment properties with 15-25% down. Rates run about 0.5-0.75% higher than primary residence pricing.

Question 3

Do I need mortgage insurance on a conforming loan?

Accepted Answer

You need PMI with less than 20% down. It drops automatically at 78% loan-to-value or when you request removal at 80% LTV.

Question 4

How long does conforming loan approval take?

Accepted Answer

Expect 21-30 days from application to closing. Clean credit and complete documentation can shorten timelines to 18-21 days with responsive lenders.

Question 5

What if my Daly City purchase price exceeds conforming limits?

Accepted Answer

You'll need jumbo financing, which carries higher rates and stricter qualification. Consider increasing your down payment to stay within conforming limits if you're close.

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