Question 1

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

Accepted Answer

Most lenders require a 620 minimum. A 740+ score gets you the best pricing available.

Question 2

Can I avoid PMI on a conventional loan?

Accepted Answer

Yes. Put 20% down and PMI never appears. It also cancels once you reach 20% equity on a lower down payment loan.

Question 3

How does conventional compare to FHA in Woodland?

Accepted Answer

Conventional is cheaper long-term for borrowers with 700+ credit. FHA makes sense if your score is below 660.

Question 4

Are Woodland home prices within conforming loan limits?

Accepted Answer

Most are. Yolo County's conforming limit covers the majority of purchases here, keeping you out of jumbo territory.

Question 5

What's the minimum down payment for a conventional loan?

Accepted Answer

3% down is available for first-time buyers. Most repeat buyers put down 5-20% depending on their goals.

Conventional Loans in Woodland, CA