Question 1

What is the conforming loan limit in Yolo County?

Accepted Answer

Yolo County uses the standard Fannie Mae/Freddie Mac baseline limit. Loans above that limit require jumbo financing with different underwriting rules.

Question 2

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

Accepted Answer

Yes, but the condo project must meet Fannie Mae or Freddie Mac approval standards. Some smaller or newer projects don't qualify — check before you write an offer.

Question 3

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

Accepted Answer

No. You can put as little as 3% down. You'll pay PMI until you reach 20% equity, then you can request its removal.

Question 4

How does my credit score affect my conforming rate?

Accepted Answer

Pricing tiers kick in at 620, 660, 680, 700, 720, and 740. The jump from 719 to 740 can save you significantly over the loan term. Rates vary by borrower profile and market conditions.

Question 5

Is a conforming loan better than FHA for Davis buyers?

Accepted Answer

Usually yes, if your score is 620 or above. Conforming has lower long-term insurance costs and no upfront mortgage insurance premium like FHA requires.

Question 6

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

Accepted Answer

Typically 21 to 30 days with complete documentation. Davis sellers often prefer conventional conforming offers — they close cleaner than government loans.

Conforming Loans in Davis, CA — Rates, Limits & How to Qualify