Question 1

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

Accepted Answer

Most lenders require a 620 minimum. Scores of 740 or higher get you the best rate tiers.

Question 2

Can I use conventional financing on a rural or older Humboldt County home?

Accepted Answer

Yes, but the appraisal drives it. Condition and value must support the loan amount.

Question 3

How much do I need to put down?

Accepted Answer

As little as 3% on some programs. Put down 20% and skip PMI entirely.

Question 4

How does conventional compare to FHA in this area?

Accepted Answer

Conventional PMI cancels at 20% equity. FHA mortgage insurance often sticks for the loan's life.

Question 5

Do conforming loan limits apply in Humboldt County?

Accepted Answer

Yes. Most Rio Dell purchase prices fall under the conforming limit, so jumbo financing is rarely needed.

Conventional Loans in Rio Dell, CA