Question 1

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

Accepted Answer

Minimum is 620, but 740+ gets you the best rates. Below 700, expect pricing adjustments that add real cost.

Question 2

Can I buy a condo in Stanton with a conventional loan?

Accepted Answer

Yes, but the condo project must pass lender review. HOA finances and owner-occupancy ratios both get checked.

Question 3

When does PMI go away on a conventional loan?

Accepted Answer

PMI cancels automatically when you reach 20% equity based on original value. You can also request removal once you hit that threshold.

Question 4

How is a conventional loan different from an FHA loan?

Accepted Answer

Conventional has stricter credit requirements but no lifetime mortgage insurance. FHA charges MIP for the life of the loan in most cases.

Question 5

What's the maximum loan amount for a conventional loan in Orange County?

Accepted Answer

Orange County qualifies for higher conforming limits than the national baseline. Ask us for the current limit — it affects whether you need a jumbo loan.

Question 6

How much do I need for a down payment on a conventional loan?

Accepted Answer

As little as 3% for qualifying first-time buyers. Put down 20% and you avoid PMI entirely from day one.

Conventional Loans in Stanton, CA