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Calexico sits at the US-Mexico border in Imperial County — a market most lenders overlook. That works in your favor if you qualify for conventional financing.
HousingWire flagged a 10.4% weekly drop in mortgage applications as the 30-year fixed hit 6.57%. Fewer buyers applying means less competition for conventional borrowers who are ready to move.
620
Min Credit Score
3%
Min Down Payment
~45%
Max DTI Ratio
6.57% (Apr 2026)
30-Yr Fixed (Ref.)
21–30 days
Avg Time to Close
Conventional Loans in Calexico
Conventional loans require a minimum 620 credit score. Most lenders want 700+ to offer their best pricing.
You'll need at least 3% down as a first-time buyer. Put down 20% and you skip private mortgage insurance — PMI adds to your monthly cost.
Local decision guide
Use this guide to connect conventional loans eligibility, lender expectations, and local market factors before comparing payment options in Calexico.
Calexico sits at the US-Mexico border in Imperial County — a market most lenders overlook. That works in your favor if you qualify for conventional financing.
HousingWire flagged a 10.4% weekly drop in mortgage applications as the 30-year fixed hit 6.57%. Fewer buyers applying means less competition for conventional borrowers who are ready to move.
Conventional loans require a minimum 620 credit score. Most lenders want 700+ to offer their best pricing.
Calexico's border-town status means local bank options are thin. Retail lenders here often have limited conventional programs.
Working with a wholesale broker gives you access to 200+ lenders competing for your loan. That spread matters when you're rate shopping in a smaller market.
Conventional loans price off your credit score more than any other factor. A 40-point score difference can move your rate by 0.5% or more.
Debt-to-income ratio — what you owe monthly versus what you earn — caps around 45% for most conventional programs. Know your number before you apply.
FHA loans accept lower credit scores but charge mortgage insurance for the life of the loan. Conventional PMI drops off once you hit 20% equity.
If the property needs work, FHA or a renovation loan may fit better. Conventional appraisals are stricter about property condition.
Imperial County prices tend to run well below coastal California. That means many Calexico purchases stay comfortably within conforming loan limits.
Cross-border employment is common here. If your income comes from Mexico-based work, document it carefully — conventional lenders require US-reportable income.
The minimum is 620. Scores above 740 get the best rates available.
Only if it's reported on US tax returns. Foreign income that isn't documented stateside won't count.
No. First-time buyers can put down as little as 3%. You'll pay PMI until you reach 20% equity.
FHA allows lower scores but charges lifetime mortgage insurance. Conventional PMI cancels — making it cheaper long-term for qualified buyers.
Rarely. Imperial County home prices typically fall well within standard conforming limits.
Plan for 21 to 30 days from application to close. Having documents ready upfront cuts that timeline.