Question 1

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

Accepted Answer

You need at least a 620 credit score. Scores above 740 get the best rates and lowest PMI costs.

Question 2

Can I get a conventional loan on a fixer-upper in Lake County?

Accepted Answer

Conventional loans require the home to be livable at closing. Major repairs usually require a rehab loan instead.

Question 3

How does wildfire risk affect my mortgage in Clearlake?

Accepted Answer

Lenders require active homeowners insurance before funding. In high-risk zones, getting coverage can be harder — start early.

Question 4

Is a conventional loan better than FHA for a Clearlake purchase?

Accepted Answer

For buyers with 680+ credit, conventional usually costs less over time. PMI cancels; FHA mortgage insurance often doesn't.

Question 5

Will low appraisal comps cause problems in Clearlake?

Accepted Answer

They can. Thin comparable sales make appraisals tricky. Working with a rural-experienced lender reduces that risk significantly.

Conventional Loans in Clearlake, CA