Conventional Loans in California
Conventional loans are the most common mortgage type in California, offering flexible terms, competitive rates, and the ability to cancel mortgage insurance once you reach 20% equity. Whether buying or refinancing in California, a conventional loan may be your best option.
Get Pre-Approved in California
Your Loan Officer will contact you within 24 hours to discuss your conventional loans options in California.
Benefits of Conventional Loans in California
- Down payments as low as 3%
- PMI cancellable at 20% equity
- Loan amounts up to conforming limits
- Fixed or adjustable rate options
- Primary, second home, or investment property
Conventional Loans Requirements in California
- Minimum 620 credit score
- DTI typically under 50%
- 2 years employment history
- Documented income and assets
- Property appraisal required
Requirements vary by lender. Contact Your for your specific situation in California.
Conventional Loans FAQs — California
What is the conventional loan limit in California for 2024?
The 2024 conforming loan limit for most California counties is $766,550 for a single-family home. High-cost California counties have higher limits. Loans above these limits are considered jumbo loans.
How much down payment do I need for a conventional loan in California?
Conventional loans in California require as little as 3% down for first-time homebuyers (Fannie Mae HomeReady or Freddie Mac Home Possible programs). Most California buyers put down 5–20%. A 20% down payment eliminates PMI entirely.
When can I cancel PMI on my California conventional loan?
You can request PMI cancellation once your loan balance reaches 80% of the original home value. PMI automatically terminates at 78% LTV based on original amortization. A new appraisal showing increased California home values can also support earlier PMI removal.
What credit score do I need for a conventional loan in California?
The minimum credit score for a conventional loan in California is 620, though the best rates go to borrowers with 740+ scores. A higher credit score can save thousands over the life of your California mortgage.
Conventional Loans Available in All 50 States
Your Loan Officer is licensed to help borrowers across the country. Select your state:
About Your Loan Officer
Your Loan Officer is a licensed mortgage loan officer with experience helping borrowers across the country secure the right loan program. Specializing in conventional loans and known for fast closings and clear communication.
Ready to Get Started?
Get your free conventional loans pre-approval in California today. No obligation — just answers.
Get Pre-ApprovedOther Loan Programs in California
Ready to Apply for Conventional Loans in California?
Your Loan Officer will personally guide you through the process. Fast, clear, and stress-free.