Question 1

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

Accepted Answer

Most lenders require a 620 minimum. A 740+ score gets you the best rate tiers and lowers your PMI cost.

Question 2

Can I use a conventional loan on a rural property in Humboldt County?

Accepted Answer

Yes, conventional loans work on rural properties. Thin comparable sales can complicate appraisals, so lender selection matters.

Question 3

How much do I need to put down in Blue Lake?

Accepted Answer

As little as 3% on a primary residence. You'll pay PMI until you reach 20% equity, then it cancels.

Question 4

Are conventional rates higher than FHA rates right now?

Accepted Answer

Conventional rates can run higher than FHA rates at lower credit scores. At 680+, conventional usually prices better overall. Rates vary by borrower profile and market conditions.

Question 5

What if the property has acreage — does that affect approval?

Accepted Answer

Acreage is generally fine for conventional. Issues arise when commercial use or cannabis activity is tied to the parcel.

Conventional Loans in Blue Lake, CA