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Brawley sits in Imperial County — one of California's more affordable markets. Conventional loans are a strong fit here because prices rarely push into jumbo territory.
HousingWire flagged a 10.4% weekly drop in mortgage applications as the 30-year fixed hit 6.57%. For Brawley buyers, that rate environment makes lender shopping more important than ever.
~6.57% (Apr 2026)
30-Year Fixed Rate
620
Min Credit Score
3% – 20%
Min Down Payment
20% equity
PMI Cancels At
21–30 days
Typical Close Time
Conventional Loans in Brawley
Most conventional loans require a 620 minimum credit score. To avoid PMI (private mortgage insurance — a monthly fee added when equity is low), you need 20% down.
Your debt-to-income ratio (DTI) should stay under 45%. Lenders want to see 2 years of W-2s or tax returns, plus 2 months of bank statements.
Local decision guide
Use this guide to connect conventional loans eligibility, lender expectations, and local market factors before comparing payment options in Brawley.
Brawley sits in Imperial County — one of California's more affordable markets. Conventional loans are a strong fit here because prices rarely push into jumbo territory.
HousingWire flagged a 10.4% weekly drop in mortgage applications as the 30-year fixed hit 6.57%. For Brawley buyers, that rate environment makes lender shopping more important than ever.
Most conventional loans require a 620 minimum credit score. To avoid PMI (private mortgage insurance — a monthly fee added when equity is low), you need 20% down.
SRK CAPITAL works with 200+ wholesale lenders. That matters in a smaller market like Brawley, where retail bank options are limited.
Wholesale lenders price loans differently than local banks. We can often find better terms by running your file across multiple investors at once.
In smaller California markets, appraisals are the biggest wildcard. Comps can be thin in Brawley — that affects whether your purchase price holds up.
Borrowers with 740+ credit scores get the best conventional pricing. If you're at 680, the rate difference is real. It may be worth waiting 60 days to improve your score before locking.
FHA loans allow down payments as low as 3.5% and accept scores down to 580. But FHA charges mortgage insurance for the life of the loan — conventional PMI drops off at 20% equity.
ARMs start with lower rates but carry risk if you plan to stay long-term. For Brawley buyers expecting to stay 7+ years, a fixed conventional loan is the safer call.
Imperial County incomes skew lower than the California average. That affects how lenders view DTI on local purchase loans — especially for first-time buyers.
Brawley's proximity to the US-Mexico border means some buyers have cross-border income. Conventional loans can accommodate foreign income, but documentation requirements are strict.
Minimum is 620. But 740+ gets you the best rates — the gap between 680 and 740 can move your rate noticeably.
Yes, some programs allow as little as 3% down. You'll pay PMI until you hit 20% equity, then it cancels.
If your credit is strong, conventional usually wins. FHA carries lifetime mortgage insurance — conventional PMI drops off.
Yes. Imperial County home prices typically fall well within conforming loan limits. Jumbo financing is rarely needed here.
Yes, but lenders want 2 years of tax returns. Net income after write-offs is what counts — not gross revenue.
Typical timeline is 21-30 days. Thin appraisal comps in smaller markets can add time — plan for it.