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in Dunsmuir, CA
Dunsmuir buyers choosing between conventional and FHA loans face a real trade-off. Conventional requires more down payment but skips lifetime mortgage insurance.
FHA opens the door with less cash upfront but carries insurance costs. The 2026 conforming limit in Siskiyou County is $832,750. FHA caps at $541,287 here.
Conventional at 6.25% works best when you have real savings. At 80% LTV, PMI cancels completely and never returns.
Underwriting requires documented income and two years of work history. Most lenders want 740+ FICO and proof of reserves beyond the down payment.
FHA at 5.875% opens doors for buyers with limited savings. You can start with just 3.5% down and a 580 FICO score.
The catch is mortgage insurance for life if you put down less than 10%. Upfront MIP runs 1.75% of the loan amount.
Local decision guide
Use this comparison to weigh Conventional Loans and FHA Loans through local payment fit, eligibility, documentation, and timing before choosing a path in Dunsmuir.
Dunsmuir buyers choosing between conventional and FHA loans face a real trade-off. Conventional requires more down payment but skips lifetime mortgage insurance.
FHA opens the door with less cash upfront but carries insurance costs. The 2026 conforming limit in Siskiyou County is $832,750. FHA caps at $541,287 here.
Conventional at 6.25% works best when you have real savings. At 80% LTV, PMI cancels completely and never returns.
The payment gap favors FHA by $181 per month in this scenario. FHA's lower rate and higher down-payment flexibility offset the mortgage insurance cost.
Conventional buyers at 80% LTV pay more monthly but own the payment outright. No insurance means the full payment goes to principal and interest.
Choose conventional if you have solid savings and stable income. Siskiyou County's median household income is $55,499—if you're above that and can put 20% down, conventional wins long-term.
Pick FHA if your down payment is under 10% and your FICO is 620–740. FHA's lower rate and minimal upfront cash make sense when savings are tight.
Conventional at 80% LTV is $4,618 monthly. FHA at 96.5% LTV is $4,437. FHA saves $181 per month, though the loan amounts differ.
Yes. At exactly 80% LTV, conventional has zero PMI. Below 80% LTV, PMI applies and cancels at 78% LTV. At 20% down, you skip PMI from day one.
No. FHA's minimum is 3.5% down with a 580 FICO score. Some lenders require 640+ FICO, but the program floor is 3.5%.
Yes, if you put 10% or more down. With 10%+ down, MIP cancels after 11 years. Below 10% down, MIP stays for the entire 30-year loan.
Conventional. The 2026 FHA limit is $541,287 in Siskiyou County. Conventional goes up to $832,750. Conventional gives you more borrowing room.