Question 1

Can I use an FHA loan to buy in Napa?

Accepted Answer

Yes. FHA loans work in Napa County, but loan limits apply. Make sure the purchase price falls within the county's FHA cap before assuming it works.

Question 2

Does conventional always have a lower rate than FHA?

Accepted Answer

Not always. Borrowers with lower credit scores often see better effective rates on FHA. Rates vary by borrower profile and market conditions.

Question 3

Can I cancel FHA mortgage insurance?

Accepted Answer

If you put less than 10% down, FHA mortgage insurance stays for the life of the loan. The only exit is refinancing into a conventional loan later.

Question 4

What credit score do I need for conventional?

Accepted Answer

Most conventional lenders want 620 minimum. But rates improve meaningfully at 700 and again at 740.

Question 5

Which loan is better for a first-time buyer in Napa?

Accepted Answer

Depends on your credit and savings. FHA wins on flexibility. Conventional wins on long-term cost. We run both scenarios for every first-time buyer we work with.

Conventional vs FHA Loans in Napa, CA