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Conventional Loans in Tulare
Conventional loans dominate Tulare County because most properties here qualify as conforming — they fall under the $806,500 limit. Borrowers with decent credit get better pricing than government programs.
This loan type works well in Central Valley markets where home values stay reasonable. You'll pay less upfront and monthly compared to FHA if you can put down at least 5%.
You need 620 credit minimum, but lenders price loans in tiers. A 700 score gets you significantly better rates than 650. Most approvals require 43% debt-to-income or lower.
Down payment starts at 3% for first-time buyers and 5% for repeat buyers. Put down less than 20% and you'll pay PMI until you hit 20% equity through payments or appreciation.
Employment verification is straightforward for W-2 earners. Self-employed borrowers need two years of tax returns showing stable or increasing income.
We access 200+ wholesale lenders pricing conventional loans differently each day. One lender might beat the rest by 0.375% on rate for your exact profile — that's $60 monthly on a $300k loan.
Credit unions in Tulare County often price competitively but restrict to local properties. Wholesale channels let us shop national lenders without geographic overlays that sometimes hit rural addresses.
Most Tulare buyers benefit from conventional over FHA once they can put down 5%. The upfront insurance fee FHA charges (1.75% of loan amount) exceeds the extra 15% down payment in total cost.
Watch out for lenders that won't finance properties on well water or septic without costly inspections. Some wholesale channels handle these Tulare County features as standard — others add requirements that kill deals.
If you're borderline at 620-640 credit, pay down revolving balances below 30% utilization before applying. That often bumps scores enough to drop your rate a quarter point.
FHA allows 580 credit and 3.5% down but costs more long-term. You pay 1.75% upfront plus monthly insurance that never drops off on loans after 2013. Conventional PMI cancels at 20% equity.
Jumbo loans kick in above $806,500 — rare in Tulare but possible on larger properties or new construction. Those require 10-20% down and stricter underwriting than conventional.
Agricultural properties in Tulare County sometimes trigger extra scrutiny. Lenders classify homes on 5+ acres differently — some want the land valued separately or exclude outbuildings from collateral.
Appraisers here pull comps from a smaller pool than metro areas. Unique properties or rural locations sometimes need second reviews that add 7-10 days to closing timelines.
Minimum 620, but you'll pay lower rates at 700+. Every 20-point tier above 680 typically drops your rate an eighth to a quarter point.
No legitimate way around it on conventional loans. Lender-paid PMI options exist but build the cost into a higher rate — you pay either way.
Yes, but lender requirements vary. Some need water quality tests, others just verify adequate flow. We match you with lenders familiar with well systems.
Enough to keep total debts under 43% of gross income typically. On a $300k loan at 7%, you'd need roughly $5,500 monthly gross minimum.
Lower total cost if you can put down 5%+. FHA charges 1.75% upfront plus permanent monthly insurance — conventional PMI drops off at 20% equity.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.