Question 1

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

Accepted Answer

Most lenders require a 620 minimum. Higher scores above 740 get the best rates.

Question 2

Can I avoid PMI with less than 20% down?

Accepted Answer

Not easily with conventional. You'd pay PMI until you reach 20% equity, then request cancellation.

Question 3

Do conventional loans work for agricultural income in Gustine?

Accepted Answer

Yes, but you need two years of documented income. Lenders average your earnings over that period.

Question 4

How does a conventional loan compare to FHA in Merced County?

Accepted Answer

Conventional is cheaper long-term if your credit is strong. FHA mortgage insurance never drops off automatically.

Question 5

What is the conforming loan limit in Merced County?

Accepted Answer

Merced County follows the standard conforming limit set annually by FHFA. Most Gustine home prices fall well within it.

Conventional Loans in Gustine, CA