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Daly City sits in one of California's most expensive counties, but conforming loans offer a path to competitive rates if your purchase price falls within federal limits. As of February 2026, most properties under the conforming loan limit qualify for better pricing than jumbo financing.
San Mateo County's housing stock includes plenty of single-family homes and condos that fit conforming limits. Borrowers who stay within these thresholds unlock lower rates and easier qualification compared to jumbo alternatives.
Conforming Loans in Daly City
You need a 620 credit score minimum, though most competitive rates start at 680. Down payment requirements run from 3% for first-time buyers to 20% for no mortgage insurance.
Lenders verify income through W-2s, tax returns, and pay stubs. Debt-to-income ratios typically max out at 50%, though 43% or lower gets better pricing. Self-employed borrowers need two years of tax returns showing stable income.
Local decision guide
Use this guide to connect conforming loans eligibility, lender expectations, and local market factors before comparing payment options in Daly City.
Daly City sits in one of California's most expensive counties, but conforming loans offer a path to competitive rates if your purchase price falls within federal limits. As of February 2026, most properties under the conforming loan limit qualify for better pricing than jumbo financing.
San Mateo County's housing stock includes plenty of single-family homes and condos that fit conforming limits. Borrowers who stay within these thresholds unlock lower rates and easier qualification compared to jumbo alternatives.
You need a 620 credit score minimum, though most competitive rates start at 680. Down payment requirements run from 3% for first-time buyers to 20% for no mortgage insurance.
We shop your conforming loan across 200+ wholesale lenders who compete on rate and fees. Rate spreads between lenders can hit 0.375% on identical borrower profiles, which translates to thousands over the loan term.
Some lenders price aggressively for high credit scores, while others favor lower down payments or specific property types. We match your situation to the lender offering the tightest pricing for your exact scenario.
Most Daly City buyers who qualify for conforming financing should use it over jumbo loans, even if they can afford higher purchase prices. The rate advantage alone justifies staying under the limit when possible.
Borrowers with credit scores between 680-740 see the biggest benefit from broker shopping. That mid-tier range shows the widest pricing spread across lenders. Above 740, rates compress. Below 680, options narrow but shopping still matters.
FHA loans require mortgage insurance for the loan's life, while conforming loans drop PMI at 20% equity. For borrowers with solid credit, conforming beats FHA on long-term cost even with a smaller down payment.
Jumbo loans kick in above conforming limits and carry higher rates plus stricter qualification. If your Daly City purchase falls near the threshold, structure the deal to stay conforming through higher down payment or seller credits.
Daly City's proximity to San Francisco means property prices push conforming limits. Know the current threshold before starting your search to avoid pricing yourself into jumbo territory.
Condos dominate parts of Daly City's housing market. Conforming lenders require HOA budgets showing adequate reserves and low delinquency rates. We review association documents early to catch red flags before you write an offer.
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.
Yes, conforming loans work for investment properties with 15-25% down. Rates run about 0.5-0.75% higher than primary residence pricing.
You need PMI with less than 20% down. It drops automatically at 78% loan-to-value or when you request removal at 80% LTV.
Expect 21-30 days from application to closing. Clean credit and complete documentation can shorten timelines to 18-21 days with responsive lenders.
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.