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Conforming Loans in Fairfield
Fairfield sits in the sweet spot for conforming loans. Most homes in Solano County fall well under the $806,500 limit for 2025.
You get the lowest rates when Fannie Mae and Freddie Mac can buy your loan. That's what conforming means—it fits their box, so lenders compete for your business.
Most Fairfield buyers qualify for conforming financing. The exception: move-up buyers eyeing properties near Vacaville or premium neighborhoods where prices push jumbo territory.
You need 620 credit minimum, but 740+ unlocks the sharpest pricing. Each 20-point drop costs you in rate.
Put down 20% to skip mortgage insurance. Go below that and you'll pay PMI until you hit 20% equity—typically $100-200 monthly on a $500,000 loan.
Lenders cap your debt ratio at 43-50% depending on credit strength. Count all monthly debts: car loans, student loans, credit cards, the works.
We check rates across 200+ wholesale lenders daily. Conforming loans show the widest rate spreads—sometimes 0.5% between best and worst on identical scenarios.
Credit unions often quote tight on conforming loans, but they rarely have the overlays figured out. One collection account or gap in employment and you're shopping again.
Direct lenders advertise low rates, then hit you with lender fees that erase the savings. We compare all-in costs, not teaser rates.
Most Fairfield buyers overpay by going conventional when they'd qualify for better conforming terms. The difference: conventional just means non-government, conforming means Fannie/Freddie will buy it.
You want conforming when you have decent credit and normal income docs. Skip it if you're self-employed with complicated returns—those take manual underwriting that conforming lenders hate.
First-time buyers in Fairfield often put down 5% and pay PMI for two years, then refinance when home values climb. That play works when rates stay stable or drop.
FHA loans cost more long-term despite lower credit requirements. You pay upfront mortgage insurance plus monthly premiums that never drop off on purchases with under 10% down.
Jumbo loans kick in above $806,500 and require 20% down minimum. Rates run 0.25-0.50% higher than conforming, sometimes more if credit isn't perfect.
Adjustable-rate mortgages start lower but reset after 5-7 years. Makes sense if you'll move or refinance before adjustment, risky if you're staying put.
Solano County has Travis Air Force Base, so we see military buyers comparing VA loans to conforming options. VA wins on zero down, conforming wins on speed and appraisal flexibility.
Fairfield draws Sacramento commuters looking for value. They typically have steady W-2 income that conforming lenders love—clean approvals in 15-20 days.
Condo buyers need to verify their complex is Fannie/Freddie approved. Some older Fairfield complexes aren't on the list, forcing you into portfolio loans with worse terms.
$806,500 for single-family homes. Go above that and you need jumbo financing with different terms and rates.
Yes, but you'll pay PMI until you reach 20% equity. Expect $150-250 monthly on a $500,000 purchase depending on credit score.
740+ gets best pricing. Each 20-point drop below that costs roughly 0.125-0.25% in rate, sometimes more under 680.
They can, but you need two years of tax returns showing stable income. Complicated write-offs often kill deals—consider bank statement loans instead.
Conforming closes 3-5 days faster on average. FHA requires extra appraisal requirements that slow everything down, especially on older properties.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.