Question 1

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

Accepted Answer

Most lenders require at least 620. Scores above 700 get the best rates and pricing tiers.

Question 2

Do I have to put 20% down?

Accepted Answer

No. You can put as little as 3% down. You'll pay PMI until you reach 20% equity.

Question 3

How does conventional compare to FHA in Yolo County?

Accepted Answer

Conventional PMI cancels when you hit 20% equity. FHA mortgage insurance usually sticks for the loan's life.

Question 4

Can I use self-employment income to qualify?

Accepted Answer

Yes, but lenders want two years of tax returns. Inconsistent income makes qualification harder.

Question 5

Are Winters home prices within the conforming loan limit?

Accepted Answer

Yolo County's conforming limit covers most Winters transactions. Jumbo financing is rarely needed here.

Conventional Loans in Winters, CA