Question 1

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

Accepted Answer

Most lenders require a 620 minimum. Scores above 740 get significantly better rate pricing and lower fees.

Question 2

Do conventional loans work for properties near Shasta Lake?

Accepted Answer

Yes, but waterfront or rural properties need strong appraisal comps. Flag unique property features to your broker early.

Question 3

Can I avoid PMI on a conventional loan?

Accepted Answer

Put down 20% and PMI never starts. If you put down less, PMI cancels once you reach 20% equity.

Question 4

How does a conventional loan compare to FHA in Shasta County?

Accepted Answer

Conventional PMI eventually drops off. FHA mortgage insurance typically stays for the life of the loan.

Question 5

What is the conforming loan limit for Shasta County?

Accepted Answer

Shasta County follows the standard conforming limit. Most Shasta Lake purchases fall well within that ceiling.

Conventional Loans in Shasta Lake, CA