Question 1

What is the conforming loan limit in Ventura County?

Accepted Answer

Ventura County qualifies as a high-cost area. Its conforming limit exceeds the national baseline, letting buyers borrow more without going jumbo.

Question 2

Can I use a conforming loan to buy a condo in Oxnard?

Accepted Answer

Yes, but the condo project must meet Fannie Mae's warrantability rules. Harbor-area complexes sometimes fail these checks — verify before you go under contract.

Question 3

How much down payment do I need for a conforming loan?

Accepted Answer

As little as 3% for first-time buyers. Most borrowers put down 5-20% to manage PMI costs and improve their rate pricing.

Question 4

Do conforming loans work for self-employed borrowers in Oxnard?

Accepted Answer

They can, but Fannie Mae requires two years of tax returns and consistent income. Significant write-offs often hurt qualifying income.

Question 5

What credit score gets the best conforming loan rate?

Accepted Answer

740 and above hits the best pricing tier. Every 20-point drop below that typically costs you in rate or fees.

Question 6

Is a conforming loan better than FHA for Oxnard buyers?

Accepted Answer

For buyers with 620+ credit and 5% down, conforming usually wins. FHA makes sense when credit is below 680 or the down payment is tight.

Conforming Loans in Oxnard, CA — Rates Worth Comparing