Question 1

Can I use an FHA loan to buy in Dixon?

Accepted Answer

Yes. Dixon is in Solano County and FHA loans are available here. Confirm current county loan limits with us before you start shopping.

Question 2

Which loan has the lower down payment?

Accepted Answer

Both go as low as 3–3.5% down. FHA requires 3.5% at 580+ credit. Conventional can go 3% for qualified first-time buyers.

Question 3

Does FHA mortgage insurance ever go away?

Accepted Answer

On most FHA loans with less than 10% down, MIP stays for the life of the loan. Refinancing into conventional is usually the exit.

Question 4

What credit score do I need for conventional?

Accepted Answer

Lenders require at least 620 for conventional approval. Rates improve significantly once you're above 700.

Question 5

Can I switch from FHA to conventional later?

Accepted Answer

Yes, through a refinance. Many buyers use FHA to get in, then refinance to conventional once their equity and credit improve.

Question 6

Which loan is easier to get approved for?

Accepted Answer

FHA is more forgiving on credit and debt-to-income ratios. Conventional approvals require stronger financials across the board.

Conventional vs FHA Loans in Dixon, CA