Question 1

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

Accepted Answer

The minimum is 620. Scores above 740 get the best rates available.

Question 2

Can I use cross-border income to qualify?

Accepted Answer

Only if it's reported on US tax returns. Foreign income that isn't documented stateside won't count.

Question 3

Do I have to put 20% down on a conventional loan?

Accepted Answer

No. First-time buyers can put down as little as 3%. You'll pay PMI until you reach 20% equity.

Question 4

How does conventional compare to FHA in Imperial County?

Accepted Answer

FHA allows lower scores but charges lifetime mortgage insurance. Conventional PMI cancels — making it cheaper long-term for qualified buyers.

Question 5

Are conforming loan limits an issue in Calexico?

Accepted Answer

Rarely. Imperial County home prices typically fall well within standard conforming limits.

Question 6

How long does conventional loan approval take?

Accepted Answer

Plan for 21 to 30 days from application to close. Having documents ready upfront cuts that timeline.

Conventional Loans in Calexico, CA