Question 1

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

Accepted Answer

Most lenders require at least 620. Higher scores get better rates — 740+ puts you in the top pricing tier.

Question 2

Do I need 20% down for a conventional loan?

Accepted Answer

No. Some programs allow as little as 3% down. You'll pay PMI until you reach 20% equity.

Question 3

Should I use VA or conventional in Lemoore?

Accepted Answer

VA wins on cost for eligible borrowers — no down payment, no PMI. Conventional is better if VA eligibility isn't available.

Question 4

Are Lemoore home prices within conventional loan limits?

Accepted Answer

Kings County prices typically fall within conforming limits. You likely won't need a jumbo loan for most Lemoore purchases.

Question 5

Can I cancel PMI on a conventional loan?

Accepted Answer

Yes. Once your equity hits 20%, you can request PMI removal. This is a key advantage over FHA mortgage insurance.

Question 6

How does my DTI affect conventional loan approval?

Accepted Answer

Keep your DTI at or below 45%. Strong credit can sometimes allow a higher ratio depending on the lender and loan file.

Conventional Loans in Lemoore, CA