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Conventional Loans in Hanford
Hanford's housing market rewards borrowers with strong credit. Conventional loans here typically offer better rates than government programs for buyers with 5-10% down.
Most Hanford properties fall well under the $806,500 conforming loan limit. That gives conventional buyers access to competitive pricing from multiple lenders without jumbo loan restrictions.
You need 620 minimum credit for conventional approval. But in Hanford's competitive market, 680+ gets you better pricing and smoother underwriting.
Debt-to-income ratios max out at 50% with strong compensating factors. Most lenders prefer seeing 45% or less, especially for lower down payment deals.
SRK Capital shops conventional rates across 200+ wholesale lenders. That matters in Hanford because pricing spreads between lenders can hit 0.5% on the same borrower profile.
Credit unions price aggressively here, but they cap lending at $500K-$600K. For properties above that, we access wholesale channels that local banks can't match.
Hanford borrowers often qualify conventional when they think they need FHA. If you're putting down 5% with 700+ credit, conventional saves money on monthly insurance costs.
We see appraisal issues on older Hanford homes with deferred maintenance. Conventional underwriting is stricter than FHA on property condition, so budget for repairs before closing.
FHA requires 3.5% down versus 5% conventional, but you pay mortgage insurance for the loan's life. On a $400K Hanford home, conventional saves $185/month once you hit 20% equity.
VA loans beat conventional if you're eligible—zero down and no monthly insurance. If you don't have VA benefits, conventional is your best conventional financing option.
Hanford sits in a non-metro county, so some lenders apply rural appraisal overlays. We route to lenders familiar with Kings County comps to avoid valuation surprises.
Agricultural employment is common here. Lenders want 2 years of farm income history with tax returns showing stable or increasing revenue. Seasonal fluctuations require extra documentation.
Minimum is 620, but 680+ gets you better rates and fewer lender overlays. Most Hanford buyers with 700+ credit save money going conventional over FHA.
Yes. You'll pay PMI until you reach 20% equity, but monthly costs beat FHA if your credit is 700 or higher.
Some do. We work with lenders experienced in Kings County who understand septic systems, well water, and agricultural property comps.
You pay monthly insurance with less than 20% down. It automatically cancels at 78% loan-to-value or when you request removal at 80%.
Yes, with 2 years of tax returns showing stable income. Lenders average your net farm income and add it to W-2 earnings if applicable.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.