Question 1

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

Accepted Answer

Minimum is 620. You want 700+ to get competitive rates and avoid higher pricing adjustments from lenders.

Question 2

Can I put less than 20% down on a Chino home with conventional financing?

Accepted Answer

Yes, 3% down is available for first-time buyers. You'll pay PMI until you reach 20% equity in the home.

Question 3

How does a conventional loan differ from FHA in San Bernardino County?

Accepted Answer

Conventional PMI cancels at 20% equity. FHA mortgage insurance often stays for the life of the loan regardless.

Question 4

Does SRK CAPITAL offer conventional loans in Chino?

Accepted Answer

Yes. SRK CAPITAL shops your file across 200+ wholesale lenders to find the best conventional rate and terms for you.

Question 5

Are conventional loans harder to get approved for than FHA?

Accepted Answer

They require stronger credit and tighter debt ratios. Borrowers with solid financials usually get better total costs with conventional.

Question 6

What is PMI and when does it go away?

Accepted Answer

PMI is private mortgage insurance — required when you put down less than 20%. It cancels once you hit 20% equity.

Conventional Loans in Chino, CA — Competitive Rates, Real Options