Agency Fixed-Rate
Conventional 30-Year Fixed
The most common mortgage in America. Fixed rate and payment for 30 years, conforming to Fannie Mae / Freddie Mac guidelines.
Available throughout Southern California through Francisco Williams, CCIM, NMLS #1858674.
620
Min FICO
97%
Max LTV
3%
Min down
50%
Max DTI
Ideal borrower
W-2 borrowers with stable income and solid credit buying or refinancing a primary residence or second home.
Program highlights
- Fixed rate and principal + interest payment for 30 years
- Down payments as low as 3% for first-time buyers
- PMI removable at 20% equity (automatically at 22%)
- Available for purchase, rate/term refinance, and cash-out refinance
Typical uses
- Primary home purchase
- Rate/term refinance
- Cash-out refinance
Frequently asked questions
- What credit score do I need for a conventional 30-year fixed loan in California?
- Fannie Mae and Freddie Mac require a minimum 620 FICO for most conventional loans, though stronger scores (700+) unlock better pricing. First-time buyer programs like HomeReady accept 620 with only 3% down.
- What's the maximum loan amount for a conventional loan in Southern California?
- The 2026 baseline conforming limit is $832,750 for a one-unit property. FHFA's 2026 one-unit ceiling is $1,249,125. These counties are at that ceiling: Alameda, Contra Costa, Los Angeles, Marin, Orange, San Benito, San Francisco, San Mateo, Santa Clara, Santa Cruz. San Diego is $1,104,000, Ventura is $1,035,000, and Santa Barbara is $941,850. San Bernardino and Riverside are at the $832,750 baseline. The full county table is at https://www.franciscowilliams.com/resources/california-loan-limits-2026. Source: FHFA conforming loan limits for 2026, announced November 25, 2025. Above your county's limit, the file is jumbo.
- How much down payment do I need?
- As little as 3% for first-time buyers through HomeReady or Home Possible, 5% on a standard conventional loan, or 20% to avoid private mortgage insurance (PMI). Higher down payments unlock better pricing.
Program details shown are representative guidelines and subject to individual lender overlays and CFPB / agency requirements. Rates shown are illustrative and subject to change without notice. Actual rate, APR, and terms will depend on creditworthiness, loan-to-value, property type, occupancy, loan amount, loan program, and other factors. Not all applicants will qualify. This is not a commitment to lend; all loans are subject to credit approval, income and asset verification, and property appraisal.