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Camarillo sits in Ventura County — one of Southern California's more stable housing markets. Conventional loans are the dominant financing tool here.
HousingWire flagged that the 30-year fixed just hit 6.57%, with applications dropping sharply. Conventional borrowers with strong credit still have pricing advantages over FHA. Rates vary by borrower profile and market conditions.
620
Min Credit Score
3%
Min Down Payment
6.57% (Apr 2026)
30-Yr Fixed Rate
20% Equity
PMI Cancels At
200+
Lenders Shopped
Conventional Loans in Camarillo
Most lenders want a 620 minimum credit score. But at 740+, you get the best rate tiers — that gap matters on a Camarillo price point.
You'll need 3% down for a primary residence as a first-time buyer. Repeat buyers typically need 5%. PMI (private mortgage insurance) drops off once you hit 20% equity.
Local decision guide
Use this guide to connect conventional loans eligibility, lender expectations, and local market factors before comparing payment options in Camarillo.
Camarillo sits in Ventura County — one of Southern California's more stable housing markets. Conventional loans are the dominant financing tool here.
HousingWire flagged that the 30-year fixed just hit 6.57%, with applications dropping sharply. Conventional borrowers with strong credit still have pricing advantages over FHA. Rates vary by borrower profile and market conditions.
Most lenders want a 620 minimum credit score. But at 740+, you get the best rate tiers — that gap matters on a Camarillo price point.
Retail banks offer conventional loans, but their rate sheets are thin. We shop across 200+ wholesale lenders — that's a real difference on a high-price Ventura County home.
Not every lender prices Camarillo the same way. Some have overlays — stricter internal rules on top of Fannie Mae guidelines. We know which ones to avoid.
Conventional is the right call when your credit is solid and you have enough down to avoid heavy PMI drag. Don't default to FHA just because it feels safer.
One thing I see constantly: buyers with 700+ scores paying FHA premiums they don't need. Run both scenarios before you commit. The difference in monthly cost adds up fast.
FHA loans allow lower credit scores but carry mandatory mortgage insurance for the life of the loan. Conventional PMI cancels automatically — FHA's doesn't.
If your loan size exceeds the conforming limit for Ventura County, you're looking at a jumbo loan. The terms and qualifying standards shift meaningfully above that threshold.
Camarillo has a mix of newer planned communities and older ranch-style homes. Appraisals can vary block by block — that affects how much a lender will finance.
Ventura County buyers often face competitive offer situations. A conventional loan signals financial strength to sellers. That matters in a tight market.
Most lenders require a 620 minimum. Aim for 740+ to access the best rate tiers and lowest PMI costs.
Yes. Put 20% down and PMI never applies. With less down, it cancels once you reach 20% equity.
Conventional wins when your credit is 700+. FHA's lifetime mortgage insurance costs more over time.
First-time buyers can put down as little as 3%. Repeat buyers typically need at least 5%.
Ventura County has higher conforming limits than the national baseline. Borrow above that and you're in jumbo territory.
Brokers shop 200+ wholesale lenders for you. Banks only show you their own rates — often not the sharpest.