Question 1

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

Accepted Answer

Lenders require a minimum 620 score to qualify. You'll get meaningfully better rates at 740 or above.

Question 2

Can I buy in Chowchilla with less than 20% down?

Accepted Answer

Yes. Conventional loans allow as little as 3% down. You'll pay PMI until you reach 20% equity.

Question 3

How does conventional compare to FHA for Chowchilla buyers?

Accepted Answer

Conventional usually costs less over time if your credit is 660 or above. FHA mortgage insurance doesn't cancel automatically.

Question 4

Do conventional loan limits cover most Chowchilla homes?

Accepted Answer

Yes. Madera County home prices typically fall well within conforming loan limits. Jumbo loans are rarely needed here.

Question 5

How long does conventional loan approval take in Chowchilla?

Accepted Answer

A full pre-approval takes 24-48 hours with complete documents. Final closing typically runs 21-30 days.

Conventional Loans in Chowchilla, CA