Question 1

Can I switch from FHA to conventional later?

Accepted Answer

Yes — refinancing from FHA to conventional is common once your equity and credit improve. That move can eliminate the monthly mortgage insurance.

Question 2

Which loan is easier to get approved for in Dos Palos?

Accepted Answer

FHA approves more borrowers because of its lower credit and down payment thresholds. Conventional approval depends heavily on your credit score.

Question 3

Does FHA cost more than conventional?

Accepted Answer

Usually yes, when you factor in mortgage insurance. FHA charges an upfront fee plus monthly premiums that don't cancel automatically.

Question 4

What credit score do I need for each loan?

Accepted Answer

FHA requires 580 for 3.5% down, or 500 with 10% down. Conventional lenders generally want 620 at minimum.

Question 5

Are FHA loan limits high enough for Merced County?

Accepted Answer

FHA sets county-level loan limits. Check current Merced County limits — they may cap what you can borrow with an FHA loan.

Question 6

Which loan is better if I have a past bankruptcy?

Accepted Answer

FHA has shorter waiting periods after bankruptcy — typically 2 years. Conventional usually requires 4 years after discharge.

Conventional vs FHA Loans in Dos Palos, CA