Question 1

Can I switch from FHA to conventional later?

Accepted Answer

Yes. Once you build enough equity, refinancing into conventional removes FHA mortgage insurance. That's a common move we help Santa Rosa borrowers plan for.

Question 2

Which loan is faster to close?

Accepted Answer

Conventional loans typically close faster. FHA requires a specific appraisal process that can add time if the property has condition issues.

Question 3

Does FHA work for condos in Santa Rosa?

Accepted Answer

Only FHA-approved condo projects qualify. Conventional financing is more flexible on condo approvals and often the easier path.

Question 4

What credit score do I need for conventional in Sonoma County?

Accepted Answer

Most conventional lenders want 620 minimum. But 740+ is where you see pricing improve significantly — that gap affects your monthly payment.

Question 5

Are FHA rates lower than conventional rates?

Accepted Answer

FHA rates are often slightly lower. But once you add monthly MIP, the true cost is usually higher than a conventional loan for well-qualified borrowers. Rates vary by borrower profile and market conditions.

Question 6

Which loan has stricter property requirements?

Accepted Answer

FHA is stricter. The appraiser checks health and safety conditions. Conventional appraisals focus on value — sellers in Santa Rosa often prefer conventional offers for this reason.

Conventional vs FHA Loans in Santa Rosa, CA