Question 1

Can I use a conventional loan for a Mount Shasta vacation home?

Accepted Answer

Yes. Conventional loans allow second-home and vacation property financing. FHA does not — it's primary residence only.

Question 2

Does the property having a well or septic affect my loan?

Accepted Answer

It adds steps. Lenders require well and septic inspections. Most rural-experienced lenders handle this without issue.

Question 3

What credit score gets me the best conventional rate in Siskiyou County?

Accepted Answer

Rates improve significantly at 700 and again at 740. Below 680, FHA may actually cost less overall. Rates vary by borrower profile and market conditions.

Question 4

Is PMI required on all conventional loans?

Accepted Answer

Only when your down payment is below 20%. Once you reach 20% equity, you can request PMI cancellation.

Question 5

Do conventional loans work on properties with large acreage in Siskiyou County?

Accepted Answer

Many do, but lenders check the land-to-improvement ratio. A house on 40 acres needs a lender comfortable with rural properties.

Conventional Loans in Mount Shasta, CA