Question 1

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

Accepted Answer

Most lenders require a 620 minimum. A 740+ score gets you meaningfully better rates.

Question 2

Can I get a conventional loan with 3% down in Gonzales?

Accepted Answer

Yes, for first-time buyers. Expect PMI until you reach 20% equity in the home.

Question 3

How do conventional loans compare to FHA in Monterey County?

Accepted Answer

Conventional PMI falls off at 20% equity. FHA mortgage insurance typically stays for the loan's life.

Question 4

Will a seasonal farm income qualify for a conventional loan?

Accepted Answer

It can. You'll need two years of documented seasonal earnings — lenders average them for qualifying income.

Question 5

Does SRK CAPITAL work with Gonzales buyers specifically?

Accepted Answer

Yes. We broker loans across Monterey County and know how local appraisal conditions affect approvals here.

Conventional Loans in Gonzales, CA