Question 1

What credit score do I need for a conventional loan in Union City?

Accepted Answer

Lenders require at least 620. To get competitive rates in this market, aim for 740 or higher.

Question 2

Can I buy a condo in Union City with a conventional loan?

Accepted Answer

Yes, but the HOA must pass lender review. Get the HOA documents before you make an offer.

Question 3

How much do I need to put down?

Accepted Answer

First-time buyers can go as low as 3%. Repeat buyers typically need at least 5% down.

Question 4

Does PMI go away on a conventional loan?

Accepted Answer

Yes. Once you reach 20% equity, you can request PMI removal. FHA loans don't offer that.

Question 5

How does rate shopping work with a broker?

Accepted Answer

We pull pricing from 200+ wholesale lenders for your specific profile. One application, multiple competing rates.

Question 6

Is a conventional loan better than FHA in Union City?

Accepted Answer

If your credit is strong and you can meet the down payment, conventional usually costs less over time.

Conventional Loans in Union City, CA