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Benicia sits in Solano County — one of the Bay Area's more affordable entry points. Conventional loans are the dominant financing tool here for buyers with solid credit and steady income.
HousingWire just flagged a 10.4% weekly drop in mortgage applications, with the 30-year fixed hitting 6.57%. For conventional borrowers in Benicia, that means your rate lock timing actually matters right now.
620
Min Credit Score
3%
Min Down Payment
20%
PMI-Free Down Payment
~6.57%*
30-Yr Fixed (as of Apr 2026)
Fixed & ARM
Loan Types Available
Conventional Loans in Benicia
Most conventional loans require a 620 minimum credit score. But the best pricing — lower rates, better PMI tiers — starts at 740 and above.
Down payment can be as low as 3% for first-time buyers on a conventional loan. Put down 20% and you avoid private mortgage insurance entirely.
Local decision guide
Use this guide to connect conventional loans eligibility, lender expectations, and local market factors before comparing payment options in Benicia.
Benicia sits in Solano County — one of the Bay Area's more affordable entry points. Conventional loans are the dominant financing tool here for buyers with solid credit and steady income.
HousingWire just flagged a 10.4% weekly drop in mortgage applications, with the 30-year fixed hitting 6.57%. For conventional borrowers in Benicia, that means your rate lock timing actually matters right now.
Most conventional loans require a 620 minimum credit score. But the best pricing — lower rates, better PMI tiers — starts at 740 and above.
Banks and retail lenders will quote you one rate. We shop 200+ wholesale lenders to find better pricing on the same conventional product.
Not every lender prices Solano County the same way. Some charge location adjustments. Wholesale access lets us route around those.
Benicia buyers often qualify for conventional where FHA seems easier. Conventional removes the FHA mortgage insurance premium — that's real monthly savings.
ARM demand is shifting right now per HousingWire data. A 5/1 or 7/1 ARM can work for Benicia buyers who plan to move or refinance within that window.
FHA has lower credit requirements but permanent mortgage insurance on many loans. Conventional PMI drops off once you hit 20% equity.
Jumbo loans kick in above the conforming limit. For most Benicia properties, conventional conforming handles the purchase without jumbo pricing.
Benicia's historic district includes older homes and mixed property types. Conventional appraisals here are straightforward — no FHA minimum property condition overlays to navigate.
Solano County's price range generally stays within conforming loan limits. That keeps most Benicia deals in conventional territory without needing jumbo financing.
Minimum is 620. You'll get meaningfully better rates at 740 or above — that's where lender pricing tiers improve.
Yes. Put 20% down and PMI never appears. Or reach 20% equity later and request cancellation.
Most are. Solano County prices typically fall within conforming limits, keeping you in conventional — not jumbo — territory.
With good credit, conventional usually wins on total cost. FHA mortgage insurance sticks around longer and costs more over time.
As low as 3% for first-time buyers. Otherwise 5% is the standard floor for most conventional programs.
Only if you have a defined exit — selling or refinancing within 5-7 years. Fixed rates give you certainty if your timeline is open-ended.