Question 1

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

Accepted Answer

Most lenders require a 620 minimum. Aim for 740+ to access the best rate tiers and lowest PMI costs.

Question 2

Can I avoid PMI on a conventional loan?

Accepted Answer

Yes. Put 20% down and PMI never applies. With less down, it cancels once you reach 20% equity.

Question 3

Is conventional or FHA better for Camarillo buyers?

Accepted Answer

Conventional wins when your credit is 700+. FHA's lifetime mortgage insurance costs more over time.

Question 4

What's the down payment requirement for conventional loans?

Accepted Answer

First-time buyers can put down as little as 3%. Repeat buyers typically need at least 5%.

Question 5

How do conforming loan limits affect my purchase in Camarillo?

Accepted Answer

Ventura County has higher conforming limits than the national baseline. Borrow above that and you're in jumbo territory.

Question 6

Why use a broker instead of a bank for a conventional loan?

Accepted Answer

Brokers shop 200+ wholesale lenders for you. Banks only show you their own rates — often not the sharpest.

Conventional Loans in Camarillo, CA