Question 1

What is the conforming loan limit in Ventura County?

Accepted Answer

Ventura County uses the standard baseline conforming limit set by FHFA. Loans above that limit require jumbo financing with stricter terms.

Question 2

Can I use a conforming loan for older Ojai homes?

Accepted Answer

Yes, but the home must meet Fannie Mae property condition standards. Significant deferred maintenance can cause appraisal problems.

Question 3

What credit score do I need for the best conforming rate?

Accepted Answer

A 740+ score puts you in the top pricing tier. Scores below 680 will cost you in rate adjustments.

Question 4

How does mortgage insurance work on conforming loans?

Accepted Answer

PMI is required when you put less than 20% down. Unlike FHA, it cancels automatically when you reach 20% equity.

Question 5

Is a conforming loan better than FHA in Ojai?

Accepted Answer

For borrowers with solid credit and 5%+ down, conforming wins on cost. FHA is better for lower scores or minimal savings.

Conforming Loans in Ojai, CA — Rates That Work