Question 1

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

Accepted Answer

Minimum 620, but you'll pay premium rates below 680. Most competitive Foster City buyers have 720+ credit for best pricing and approval odds.

Question 2

How much down payment is required?

Accepted Answer

3% for first-time buyers, 5% for repeat buyers. Most Foster City buyers put down 10-20% to avoid PMI and strengthen offers against cash competition.

Question 3

Can I use a conventional loan for Foster City condos?

Accepted Answer

Yes, if the complex is warrantable and meets Fannie/Freddie guidelines. Non-warrantable condos require portfolio conventional loans with higher rates.

Question 4

What's the conventional loan limit in Foster City?

Accepted Answer

$806,500 for single-family homes in 2026. Above that you need jumbo financing, which is common here given area pricing.

Question 5

How long does conventional loan approval take?

Accepted Answer

20-30 days standard. We can close in 15 days with clean credit and complete documentation up front.

Conventional Loans in Foster City: Smart Financing for Bay Area Buyers