Question 1

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

Accepted Answer

Most lenders require a 620 minimum. Scores above 740 get the best rates.

Question 2

Do Gridley home prices stay under conforming loan limits?

Accepted Answer

Most Gridley purchases fall well inside Butte County conforming limits. That keeps you in standard conventional — not jumbo — territory.

Question 3

Can I avoid PMI on a conventional loan?

Accepted Answer

Yes. Put 20% down and PMI never starts. Already in the loan? Request removal once you reach 20% equity.

Question 4

Is conventional better than FHA for Gridley buyers?

Accepted Answer

For buyers with 620+ credit, conventional usually wins long-term. FHA mortgage insurance doesn't drop off the way conventional PMI does.

Question 5

How does self-employment affect my conventional loan application?

Accepted Answer

Lenders need two years of tax returns and may average your net income. Farm or ag income adds complexity — plan ahead.

Conventional Loans in Gridley, CA