Question 1

What is the conforming loan limit in Santa Barbara County?

Accepted Answer

Santa Barbara County qualifies for a higher-cost area limit above the national baseline. Ask us for the current figure — limits adjust annually.

Question 2

Can I get a conforming loan with less than 20% down?

Accepted Answer

Yes. Some programs go as low as 3% down. You'll pay PMI until you reach 20% equity, then you can cancel it.

Question 3

How does my credit score affect my conforming rate?

Accepted Answer

Every tier above 620 improves your pricing. Borrowers at 740+ get the best rates. A 680 score and a 760 score are not the same loan.

Question 4

Is a conforming loan better than FHA for Guadalupe buyers?

Accepted Answer

Usually yes, if your credit clears 620 and you have some down payment. Conforming drops PMI; FHA doesn't. That saves thousands long-term.

Question 5

How long does a conforming loan take to close?

Accepted Answer

Typically 21-30 days with clean documentation. Standardized Fannie/Freddie guidelines make underwriting faster than non-conforming products.

Question 6

Do conforming loan rates vary by lender?

Accepted Answer

Yes — significantly. The same borrower profile can get quotes 0.25-0.50% apart. Shopping multiple lenders is worth the effort. Rates vary by borrower profile and market conditions.

Conforming Loans in Guadalupe, CA — Rates That Work