Question 1

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

Accepted Answer

Most lenders require a 620 minimum. Scores above 740 get the best rates — that gap matters even on smaller loan amounts.

Question 2

Can I use a conventional loan on an older Dunsmuir home?

Accepted Answer

Yes, but condition matters. Significant deferred maintenance can cause appraisal issues — FHA is stricter, but conventional isn't condition-blind.

Question 3

Do conforming loan limits restrict what I can borrow in Siskiyou County?

Accepted Answer

Siskiyou County uses standard conforming limits, not high-cost limits. Most Dunsmuir purchase prices fall comfortably within those limits.

Question 4

How much do I need to put down on a conventional loan?

Accepted Answer

As little as 3% on a primary residence. Put down 20% and you avoid PMI completely, which reduces your monthly payment.

Question 5

Is a conventional loan better than FHA for Dunsmuir buyers?

Accepted Answer

If your credit is above 700 and you have some down payment saved, conventional usually costs less over time. FHA has stricter appraisal rules too.

Question 6

Can I get a conventional loan on a vacation property in Dunsmuir?

Accepted Answer

Yes. Second homes qualify for conventional financing, but rates are slightly higher than primary residence loans.

Conventional Loans in Dunsmuir, CA