Question 1

What credit score do I need for conventional in Turlock?

Accepted Answer

Minimum 620 for approval, but 740+ gets you the best rates. Scores between 680-739 still qualify for competitive pricing on conventional loans.

Question 2

Can I buy investment property in Turlock with conventional financing?

Accepted Answer

Yes, with 15-25% down depending on credit and reserves. Rates run 0.50-0.75% higher than primary residence conventional loans.

Question 3

How does conventional compare to FHA in Turlock?

Accepted Answer

Conventional costs less long-term if your credit exceeds 680. FHA mortgage insurance never cancels, while conventional MI drops at 78% loan-to-value.

Question 4

Do Turlock sellers prefer conventional offers?

Accepted Answer

Absolutely. Conventional appraisals don't require repairs that kill deals on older properties. Sellers see conventional buyers as more likely to close.

Question 5

What down payment do I need for conventional in Stanislaus County?

Accepted Answer

5% minimum for primary residence, 15-25% for investment property. Putting 20% down eliminates mortgage insurance and unlocks better rates.

Question 6

How do current rates affect conventional loans in Turlock?

Accepted Answer

Rates hit four-year lows recently with Fed cuts paused. Strong credit borrowers lock competitive terms now before any future rate increases.

Conventional Loans in Turlock: Competitive Rates for Strong Borrowers