Question 1

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

Accepted Answer

Most lenders require a 620 minimum. Scores above 740 unlock the best rates. Rates vary by borrower profile and market conditions.

Question 2

Do Taft home prices stay under conforming loan limits?

Accepted Answer

Taft prices typically fall well within conforming limits. That means no jumbo requirements and standard conventional terms apply.

Question 3

Can I qualify with oil industry income?

Accepted Answer

Yes — W-2 oil workers qualify straightforwardly. Contract or self-employed workers need two years of consistent tax returns.

Question 4

How do I avoid PMI on a conventional loan?

Accepted Answer

Put 20% down at closing. Or reach 20% equity later and request cancellation — an option FHA loans rarely offer.

Question 5

Is a conventional loan better than FHA in Taft?

Accepted Answer

With a 680+ credit score, conventional usually costs less. FHA is better for lower scores or thinner down payments.

Conventional Loans in Taft, CA — Straight Talk on Getting Approved