Question 1

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

Accepted Answer

Minimum is 620. Hit 740 and you'll see meaningfully better rates and lower fees.

Question 2

Do I need 20% down for a conventional loan?

Accepted Answer

No. First-time buyers can put down as little as 3%. But under 20%, you'll pay PMI until you reach that equity threshold.

Question 3

How does conventional compare to FHA in Barstow?

Accepted Answer

For buyers with 680+ credit, conventional usually costs less long-term. FHA's mortgage insurance sticks around longer.

Question 4

Are Barstow properties eligible for conventional financing?

Accepted Answer

Most standard homes are. Heavily distressed or rural-zoned properties can create issues — we'll flag any concerns early.

Question 5

What DTI ratio do lenders want for a conventional loan?

Accepted Answer

Most lenders cap DTI at 45%. Strong credit or larger down payments can sometimes push that to 50%.

Question 6

Can I get a conventional loan if I'm self-employed in Barstow?

Accepted Answer

Yes, but lenders want two years of tax returns. Net income after write-offs is what counts — not gross revenue.

Conventional Loans in Barstow, CA