Conventional Loans
in Los Angeles

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When shopping for a home loan in Los Angeles, one versatile option to consider is a conventional loan, also known as a conforming loan. A conventional loan conforms to the limits established by Fannie Mae and Freddie Mac for financing. So long as the amount you need to borrow to purchase a home falls under those limits, conventional financing is a possibility.


What Are the Conventional Loan Limits for Los Angeles?

As of 2019, here are the conventional loan limits for LA:

One Unit Limit:

$726,525

Two Unit Limit:

$930,300

Three Unit Limit:

$1,124,475

Four Unit Limit:

$1,397,400

Many homes in the Los Angeles metropolitan area can be purchased with conventional financing. Conventional loan limits in some of the surrounding counties are lower.

For example, here are the 2019 conventional loan limits in Riverside:

One-Unit Limit:

$484,350

Two-Unit Limit:

$620,200

Three-Unit Limit:

$749,650

Four-Unit Limit:

$931,600

If you are not sure what the conforming loan limits are in the area where you are shopping for a home, I can let you know the applicable caps for conventional financing.

There are, of course, many Los Angeles homes that require more financing than you can receive through a conventional loan. For those properties, consider applying for a jumbo loan.

What Will You Qualify for When You Apply for a
Conventional Loan in LA?

The interest rate and terms governing a conventional loan in Los Angeles depend on your qualification criteria. When extending you loan offers, lending companies evaluate:

Your credit score as well as your debt-to-income ratio and other important financial measures.

The down payment amount that you can make.

Your financial history.

Factors involving your employment.

The more competitive you are as a borrower, the more affordable loan offers you will receive.

Apply Now for a Competitive Conventional Loan in Los Angeles

I am a mortgage broker, which means that I partner with many mortgage lenders throughout the Los Angeles metropolitan area. This is what allows me to bring you as many conventional loan offers as possible so that you can choose the most competitive one. This is a big timesaver for you, and can also save you money over the lifetime of your loan.

If you are ready to find out what you qualify for, please give me a call at (818) 601-2231. I look forward to scheduling your consultation and discussing your needs.

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