Conventional Home Loans in Bakersfield, California
The most flexible mortgage option for buyers with solid credit. Start with as little as 3% down, access competitive rates, and remove mortgage insurance once you hit 20% equity.
About Conventional Loans
Conventional loans are not backed by a government agency. They're funded by private lenders and conform to Fannie Mae or Freddie Mac guidelines. Because they rely on market standards, they offer greater flexibility in property types, loan structures, and terms than government-backed programs.
In Bakersfield, where home prices remain more affordable than Los Angeles or the Bay Area, conventional loans are the most popular choice for buyers with good credit and stable income. Dan shops dozens of lenders to find you the most competitive rates and fees on a conventional mortgage.
Key Features
Pros & Cons
Pros
- PMI removable (unlike FHA MIP)
- No upfront mortgage insurance fee
- Available for primary, vacation, investment
- Higher loan limits than FHA
- Fixed and adjustable rate options
- Fewer property condition restrictions
Cons
- Higher minimum credit score than FHA
- PMI required with <20% down
- Stricter debt-to-income requirements
- Less flexible for buyers with past bankruptcy
FHA or Conventional: Which Is Right for You?
If you're weighing conventional against FHA, here's the 60-second answer.
Conventional Loan FAQs
Conventional Loan Questions, Comparisons & Local Pages
Ready to Get Pre-Approved for a Conventional Loan?
Apply online or call Dan at (661) 342-9381 for a free rate quote.