Question 1

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

Accepted Answer

Minimum is 620. You'll need 740+ to access the best rates and lowest PMI tiers.

Question 2

Can I use a conventional loan on an older coastal home?

Accepted Answer

Yes, but condition matters. Lenders may require repairs if the appraisal flags safety or structural issues.

Question 3

How does PMI work on a conventional loan?

Accepted Answer

PMI is required below 20% down. It cancels automatically when your loan balance hits 80% of the home's value.

Question 4

Are conforming loan limits the same in Mendocino County?

Accepted Answer

Mendocino County follows standard conforming limits. Anything above that moves into jumbo territory with different requirements.

Question 5

Is a conventional loan better than FHA in Point Arena?

Accepted Answer

With strong credit and 10%+ down, conventional usually costs less long-term. FHA makes sense when credit is below 680.

Conventional Loans in Point Arena, CA