Question 1

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

Accepted Answer

Most lenders require a 620 minimum. For the best rates in this market, aim for 740 or above.

Question 2

Can I use a conventional loan to buy a vacation rental in Fort Bragg?

Accepted Answer

Yes, but lenders underwrite second homes and investment properties differently. Rates and down payment requirements are higher for non-primary residences.

Question 3

How does wildfire risk affect my conventional loan approval?

Accepted Answer

Lenders require active hazard insurance at closing. If you can't get coverage, the loan won't fund regardless of your credit.

Question 4

Is the conventional loan limit different in Mendocino County?

Accepted Answer

Mendocino County follows the standard conforming loan limit. Loans above that limit require jumbo financing with different guidelines.

Question 5

How do sparse comps in Fort Bragg affect my appraisal?

Accepted Answer

Low comparable sales volume can make appraisals come in conservative. Choosing the right lender — one familiar with rural coastal markets — helps manage this risk.

Question 6

Do I need 20% down for a conventional loan?

Accepted Answer

No. You can put down as little as 3%. Putting down 20% eliminates PMI, which reduces your monthly payment.

Conventional Loans in Fort Bragg, CA