Question 1

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

Accepted Answer

620 is the floor. But 740+ is where you get the cleanest pricing on rate and fees.

Question 2

Can I use a conventional loan for a vacation home in La Quinta?

Accepted Answer

Yes. Expect at least 10% down and a rate adjustment. Lenders price second homes higher than primaries.

Question 3

How does PMI work on a conventional loan?

Accepted Answer

PMI is added to your monthly payment when you put less than 20% down. It cancels once you reach 20% equity.

Question 4

Is the conforming loan limit the same in Riverside County as in LA County?

Accepted Answer

No. Riverside County has a lower conforming limit than high-cost counties like LA. Ask us for the current limit before shopping.

Question 5

Can I buy a condo in La Quinta with a conventional loan?

Accepted Answer

Only if the complex is warrantable. We verify that upfront so you don't waste time on a deal that can't close.

Conventional Loans in La Quinta, CA