Question 1

What credit score do I need for a conventional loan in Suisun City?

Accepted Answer

Most lenders require at least 620. Scores above 740 get the best rates. Rates vary by borrower profile and market conditions.

Question 2

Can I put less than 20% down on a conventional loan?

Accepted Answer

Yes. Some programs allow 3% down. You'll pay PMI until you reach 20% equity, then it cancels.

Question 3

How does conventional compare to FHA for Suisun City buyers?

Accepted Answer

Conventional costs less long-term if your credit is strong. FHA MIP stays for the loan's life — conventional PMI drops off.

Question 4

What is the conforming loan limit for Solano County?

Accepted Answer

FHFA sets conforming limits annually. Loans above that limit in Solano County move into jumbo territory with stricter requirements.

Question 5

Is a fixed or adjustable rate better for a conventional loan right now?

Accepted Answer

That depends on how long you plan to stay. ARMs start lower but adjust. Fixed locks in your rate for the full term. Rates vary by borrower profile and market conditions.

Question 6

Do I need a broker or can I go directly to a bank?

Accepted Answer

Banks offer one set of rates. A broker like SRK CAPITAL shops across 200+ wholesale lenders to find better pricing for your file.

Conventional Loans in Suisun City, CA