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Grass Valley sits in Nevada County's Sierra foothills — a market where buyers tend to be financially established. Conventional loans are the dominant financing tool here.
HousingWire just flagged that 30-year fixed rates hit 6.57%, with applications dropping sharply. For conventional borrowers in Grass Valley, stronger credit profiles help offset rate pressure.
620
Min Credit Score
3%–5%
Min Down Payment
45%
Max DTI
6.57% (Apr 2026)
30-Yr Fixed Rate
Conventional Loans in Grass Valley
Most conventional loans require a 620 minimum credit score. To avoid private mortgage insurance (PMI), you need 20% down.
Debt-to-income ratio (DTI) — what you owe monthly versus what you earn — must stay under 45%. Strong reserves help when DTI pushes that ceiling.
Local decision guide
Use this guide to connect conventional loans eligibility, lender expectations, and local market factors before comparing payment options in Grass Valley.
Grass Valley sits in Nevada County's Sierra foothills — a market where buyers tend to be financially established. Conventional loans are the dominant financing tool here.
HousingWire just flagged that 30-year fixed rates hit 6.57%, with applications dropping sharply. For conventional borrowers in Grass Valley, stronger credit profiles help offset rate pressure.
Most conventional loans require a 620 minimum credit score. To avoid private mortgage insurance (PMI), you need 20% down.
We work with 200+ wholesale lenders. That means we're not stuck with one bank's rate sheet for Grass Valley buyers.
Retail banks quote one rate. We shop it across dozens of lenders simultaneously. The difference on a $500K loan can be thousands per year.
Grass Valley properties sometimes include larger parcels or older construction. Some lenders get skittish on acreage. We know which ones don't.
Rural or semi-rural homes can hit appraisal snags. Choosing the right lender upfront avoids a mid-escrow scramble.
FHA loans allow lower credit scores but add mandatory mortgage insurance. Conventional loans drop PMI once you hit 20% equity — FHA often doesn't.
Jumbo loans cover amounts above the conforming limit. If your Grass Valley purchase stays under that threshold, conventional wins on rate and flexibility.
Nevada County has a mix of rural, semi-rural, and in-town properties. Conventional guidelines treat these differently — lot size and property type both matter.
Fire zone designations affect insurance costs in this region. Lenders require proof of coverage before closing, so line up insurance early.
Most lenders require at least 620. Scores above 740 get you the best rates.
Yes, but lender guidelines vary on lot size. We match you with lenders who handle rural Nevada County properties regularly.
Only if you put down less than 20%. Once your equity hits 20%, you can request PMI removal.
Lenders require active homeowners insurance before closing. Fire zone properties can be harder to insure — start shopping coverage early.
For buyers with 620+ credit and 5%+ down, conventional usually wins. FHA has lower bars but adds long-term insurance costs.