Loading
Loading
Ukiah sits in Mendocino County wine country, drawing buyers who want space, value, and a slower pace than the Bay Area.
Conventional loans are the most common financing tool here. They work well across price points and property types common to this region.
620
Min Credit Score
3%
Min Down Payment
20% Equity
PMI Eliminated At
6.57%*
30-Yr Fixed (Recent)
10–30 Years
Typical Loan Terms
Conventional Loans in Ukiah
Most conventional loans require a 620 minimum credit score. Better scores get meaningfully better rates — 740+ is where pricing gets sharp.
Down payment starts at 3% for first-time buyers. Put down 20% and you skip private mortgage insurance (PMI) entirely.
Local decision guide
Use this guide to connect conventional loans eligibility, lender expectations, and local market factors before comparing payment options in Ukiah.
Ukiah sits in Mendocino County wine country, drawing buyers who want space, value, and a slower pace than the Bay Area.
Conventional loans are the most common financing tool here. They work well across price points and property types common to this region.
Most conventional loans require a 620 minimum credit score. Better scores get meaningfully better rates — 740+ is where pricing gets sharp.
Ukiah is a smaller market. Local retail banks often have limited program options and less pricing flexibility.
Working with a broker gives you access to wholesale lenders who compete for your loan. That competition shows up in your rate.
HousingWire flagged the 30-year fixed hitting 6.57% with applications dropping over 10% week-over-week. Rate sensitivity is real right now.
For Ukiah buyers, this means locking strategy matters. Float at the wrong time and your payment jumps. We track rate movements daily so you don't have to.
FHA loans allow lower credit scores and higher debt ratios. But they carry mortgage insurance for the life of the loan in many cases.
Conventional PMI drops off once you hit 20% equity. That makes conventional the better long-term play for most buyers who qualify.
Mendocino County has rural pockets. Some properties — older farmhouses, large acreage parcels — need extra lender scrutiny on appraisal.
Agricultural zoning and well-and-septic properties are common outside Ukiah's core. Not every lender handles these. Ours do.
Most lenders require a 620 minimum. Scores above 740 unlock the best pricing tiers.
Yes, but the property must meet lender guidelines. Acreage limits and well-septic setups get extra scrutiny at underwriting.
As little as 3% for qualifying first-time buyers. Put down 20% and you avoid PMI entirely.
Once you reach 20% equity, you can request cancellation. It automatically terminates at 22% equity by federal law.
For buyers with 620+ credit and stable income, conventional usually wins long-term. FHA's mortgage insurance is harder to remove.
Strong credit, 20%+ down, and a broker shopping multiple wholesale lenders. Those three factors move the needle most.