Question 1

Which loan is easier to qualify for in Montague?

Accepted Answer

FHA has lower credit and down payment requirements. It's the more accessible option for most first-time buyers in Siskiyou County.

Question 2

Can I use FHA on a fixer-upper in rural California?

Accepted Answer

FHA appraisers flag health and safety issues. Rural properties with deferred maintenance often fail FHA inspection, so condition matters a lot.

Question 3

Does conventional require a higher credit score than FHA?

Accepted Answer

Yes. Conventional lenders typically require 620 minimum. FHA accepts 580 with 3.5% down, or 500 with 10% down.

Question 4

Will I always pay mortgage insurance with FHA?

Accepted Answer

On most FHA loans, yes — for the life of the loan. Conventional PMI cancels once you reach 20% equity.

Question 5

Which loan has lower monthly payments?

Accepted Answer

It depends on your rate, down payment, and insurance costs. We run both scenarios side-by-side before you commit to anything.

Question 6

Can I switch from FHA to conventional later?

Accepted Answer

Yes, by refinancing. Many buyers start with FHA and refinance into conventional once equity and credit improve.

Conventional vs FHA Loans in Montague, CA