California Conventional Loan Built on Real Numbers
A California Conventional Loan is shaped around your file - 3% down for qualified buyers, conforming math, PMI rules. We run the numbers honestly before any commitment, not a generic pitch.
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Why Conventional Fits Most California Files
3% Down Conventional in California
The 3% minimum exists but requires meeting program criteria. We tell you upfront whether your file qualifies for 3%, or whether 5-10% is the realistic floor.
California Rate Comparison: Conventional vs FHA
Conventional vs FHA depends on credit, down payment, and DTI. We run all program options against your file rather than defaulting to conventional.
PMI Cancels at 80 Percent on California Loans
PMI on conventional exists only when needed and ends at clear thresholds. Auto-cancels at 78% of original value. Earlier removal at 80% current value via appraisal.
Our Rates For You
CONV 30 Year Purchase
Rates and APR shown are based on a $350,000 loan amount, 850 credit score, primary residence, single family home, 75% loan to value ratio, and owner occupied property. Payment example assumes no other liens on the property and includes principal and interest only. Taxes, insurance, mortgage insurance, and escrow items are not included and will increase the actual payment. Rates, APR, and points are subject to change without notice and may vary based on credit profile, property type, occupancy, loan to value, loan amount, and other qualifying factors. Not all borrowers will qualify.
Your California Conventional Roadmap
Three Real Wins From a California Conventional Loan
California Loan Amounts Within Conforming Limits
Conforming limits set by FHFA define the conventional ceiling. Those limits cover most purchase prices in current markets. We tell you upfront whether your target purchase falls within standard conforming territory or stretches into high-balance or jumbo. Conforming application affects rate structure and program eligibility.
California Rate Structure Options
Conventional terms run 30-year, 15-year fixed, and ARMs at 5/6, 7/6, and 10/6. The right choice depends on how long you plan to keep the home. Long-term hold favors fixed; planned move within seven years often favors ARM. We model both before recommending.
Primary, Second Home, and Investment Eligible in California
Conventional covers primary residences, vacation homes, and rental investments. Each type has different minimum down payment and pricing rules. Primary starts at 3% for qualified buyers; second homes need 10% minimum; investments typically 15-25% with rate adjustments.
$810M
18 Years
27500+
Conventional vs Other Loans
Conventional
FHA
VA
USDA
For homes beyond standard loan limits.
High value homes should not mean high stress financing. A conventional loan with jumbo options offers competitive rates, simple terms, and a clear path to purchase without compromise.
What could you afford with a conventional loan
Before you fall for a listing, see how the math feels. Use the calculator to test price, down payment, and taxes for your county. You will know what is comfortable before you schedule tours.
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A California Conventional Loan is funded privately under Fannie Mae or Freddie Mac rules - no government backing. Credit, down payment, and DTI determine terms. The 30-year fixed dominates California files.
A California Conventional Loan starts at 3% for qualified buyers via HomeReady or Home Possible. Standard conventional purchases run 5% minimum. Putting 20% down eliminates PMI entirely. We compare the math at 3%, 5%, 10%, and 20% on your file so the decision rests on real numbers.
Most conventional programs floor at 620 credit score. Some lender overlays push it to 640 or 660. Below 620, FHA tends to fit better. We pull your credit on day one and tell you exactly which programs your score qualifies for.
78% LTV of original value triggers automatic PMI cancellation. You can request cancellation at 80% based on current value through a borrower-paid appraisal. Once cancelled, PMI never returns - unlike FHA where mortgage insurance often persists for the loan life.
Fixed gives stability; ARM gives lower initial pricing. ARM starts lower then adjusts after the initial period (5, 7, or 10 years). Fixed wins long-term plans. ARM saves money if you sell or refinance before the first adjustment.
FHFA's 2026 conforming limit lands at $806,500 for single-family in most U.S. counties. Loans above the standard limit cross into jumbo territory with different underwriting and pricing rules. We confirm your loan size against the limit before quoting.
Conventional financing applies to primary, second home, and investment. Primary starts at 3% down for qualified buyers; second homes need 10% minimum; investments typically need 15-25% with rate adjustments. We map your specific scenario to the right structure before quoting.
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Advertised offers are not guaranteed if you do not continue to meet Oxford Home Lending's criteria and other factors bearing on your creditworthiness. Rates will vary depending on your loan term, loan type, credit profile & score, down payment, qualifying ratios, and property collateral. Monthly payments do not include property taxes, property insurance, and homeowners' association dues. Since costs can vary based on a loan program, closing costs are not shown in the examples. To qualify for a mortgage, borrowers must be U.S. citizens or permanent residents, and meet Oxford Home Lending's underwriting and Investor requirements. Interest rate examples are as of 03/03/2026 and subject to change without notice. All loans are subject to underwriting or investor approval. Other restrictions may apply. This is not an offer of credit or a commitment to lend. Rate subject to change depending on time of lock.
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Lower, LLC | NMLS ID# 1124061 | 5950 Symphony Woods Road Suite 312 Columbia, MD 21044 | Equal Housing Opportunity | https://nmlsconsumeraccess.org/ | Not an offer of credit or commitment to make a loan; all approvals are subject to underwriting guidelines including but not limited to acceptable current credit worthiness, income history, debt ratio, etc. Loan programs & options are subject to change at any time. Rates will vary depending on your loan term, loan type, credit profile, down payment, and qualifying ratios. Rates can change daily. Some restrictions may apply. No statement herein should be construed as being made on behalf of any state or federal agency.
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