Loading
Conventional Loans in Lincoln
Lincoln sits in Placer County's affordability sweet spot where conventional loans make the most sense. Most properties here fall under conforming limits, letting you avoid jumbo complications.
The city's mix of new construction and established neighborhoods gives buyers plenty of options. Conventional financing works well for both, especially with Lincoln's strong buyer pool keeping appraisals clean.
You need 620 minimum credit for conventional approval, but 740+ gets you the best rates. Most Lincoln buyers we close have scores in the 680-760 range, which lands solid pricing.
Down payment starts at 3% for first-time buyers, 5% for repeat purchasers. Anything under 20% triggers PMI, which runs $80-200 monthly on typical Lincoln purchase prices.
We access 200+ wholesale lenders for conventional loans, each pricing differently based on your profile. Rate spreads between best and worst lender can hit half a point on identical scenarios.
Some lenders favor Lincoln zip codes because default history runs low here. Others price better for new construction in specific developments. This variance is why shopping one bank directly costs you money.
Lincoln buyers often rush to put 20% down to avoid PMI, but that's not always smart. If you're sitting on 20% cash, sometimes 10% down with PMI and investing the difference pencils better.
Watch appraisals on newer Lincoln developments closely. Fast appreciation sometimes outpaces comp data, creating value gaps. We structure around this with appraisal gap coverage clauses.
FHA loans let you buy with 3.5% down versus 3% conventional, but FHA mortgage insurance never drops off. On a 30-year loan, that costs you $40,000+ extra over conventional with PMI that cancels at 78% LTV.
Jumbo loans kick in above conforming limits, which rarely applies in Lincoln. If you're looking at premium properties pushing $1M+, conventional maxes out and jumbo rates run 0.25-0.5% higher.
Lincoln's Placer County location means lower property taxes than Sacramento County next door. This widens your buying power since debt-to-income calculations include taxes. Extra $150/month matters at approval time.
New construction dominates west Lincoln developments. Builders often buy down rates or cover closing costs, but only through preferred lenders. We match or beat those deals without restricting your lender choice.
Minimum is 620, but you'll want 680+ for competitive rates. Most Lincoln buyers we close have scores between 680-760.
3% for first-time buyers, 5% for repeat purchasers. Anything under 20% requires PMI, which you can drop once you hit 78% loan-to-value.
Yes, conventional financing handles new builds well. Watch for appraisal gaps in fast-appreciating developments and structure offers accordingly.
PMI costs $80-200 monthly on typical Lincoln prices with less than 20% down. It automatically cancels at 78% LTV or you can request removal at 80%.
Yes, but minimum down payment jumps to 15-25% depending on property count. Rates run 0.5-0.75% higher than primary residence loans.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.