Question 1

What credit score do I need for a conventional loan in Del Rey Oaks?

Accepted Answer

Lenders require a 620 minimum. You'll need 740+ to access the best rate tiers on a Monterey County purchase.

Question 2

Can I avoid PMI on a conventional loan?

Accepted Answer

Yes. Put 20% down and PMI never applies. It also cancels automatically once you reach 20% equity.

Question 3

How does a conventional loan compare to FHA in this area?

Accepted Answer

Conventional wins on rate for strong borrowers. FHA fits buyers with lower scores but carries lifetime mortgage insurance.

Question 4

What is the conforming loan limit for Monterey County?

Accepted Answer

Monterey County qualifies for higher conforming limits as a high-cost area. Loans above that limit require jumbo financing.

Question 5

How fast can I get pre-approved for a conventional loan?

Accepted Answer

SRK CAPITAL can typically move fast with a complete file. Del Rey Oaks inventory is tight — don't start your search without one.

Conventional Loans in Del Rey Oaks, CA