Question 1

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

Accepted Answer

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

Question 2

Can I avoid PMI on a conventional loan?

Accepted Answer

Yes — put 20% down and PMI never applies. Or reach 20% equity later and cancel it.

Question 3

Are conventional loans available for older Arcata homes?

Accepted Answer

Yes, but older homes may require repairs before closing. Get an inspection early.

Question 4

How does self-employment affect conventional loan approval in Humboldt County?

Accepted Answer

Lenders use a 2-year average of your net income from tax returns. High write-offs hurt qualifying income.

Question 5

What's the conforming loan limit for Humboldt County?

Accepted Answer

Humboldt County follows the standard conforming limit. Loans above that threshold require jumbo financing.

Question 6

Is a 30-year fixed the only conventional option?

Accepted Answer

No. You can choose 10, 15, 20, or 30-year terms. ARMs are also available for qualified borrowers.

Conventional Loans in Arcata, CA