Question 1

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

Accepted Answer

Most lenders require at least 620. A score of 740 or higher gets you the best pricing available.

Question 2

Can I put less than 20% down on a conventional loan?

Accepted Answer

Yes. Some programs allow 3% down. You'll pay PMI until you reach 20% equity, then it cancels.

Question 3

How does conventional compare to FHA in Merced County?

Accepted Answer

With 680+ credit, conventional is usually cheaper long-term. FHA mortgage insurance often lasts the full loan term.

Question 4

Do Atwater home prices stay under conforming loan limits?

Accepted Answer

Most Atwater purchases fall well within conforming limits. That keeps most buyers in standard conventional loan territory.

Question 5

Will my self-employment income qualify for a conventional loan?

Accepted Answer

It can. Lenders want two years of tax returns and look at your average net income. Low reported income is the most common hurdle.

Conventional Loans in Atwater, CA