Question 1

What is the conforming loan limit in Santa Barbara County?

Accepted Answer

Santa Barbara County qualifies as a high-cost area. Its conforming limit exceeds the national baseline — check current FHFA limits before assuming you need jumbo financing.

Question 2

Do I need 20% down for a conforming loan in Goleta?

Accepted Answer

No. Conforming loans allow as little as 3% down. You'll pay PMI below 20%, but it cancels once you reach 80% loan-to-value.

Question 3

How does my credit score affect my conforming rate?

Accepted Answer

Fannie Mae prices loans in tiers. A 740 score gets better pricing than a 739. Small differences in score can shift your rate and payment noticeably.

Question 4

Is a conforming loan better than jumbo in Goleta?

Accepted Answer

Often yes — conforming loans carry lower rates and stricter competition among lenders. If your purchase price fits the limit, conforming usually wins.

Question 5

How long does a conforming loan take to close in California?

Accepted Answer

Most conforming purchases close in 21–30 days with complete documentation. Delays usually come from appraisal scheduling or title, not underwriting.

Conforming Loans in Goleta, CA — Rates That Work