Question 1

What's the monthly payment on a $750,000 conforming loan in Hayward?

Accepted Answer

At 5.875% with 20% down, principal and interest run $4,437 per month. Add property taxes, insurance, and HOA if applicable. The full scenario: $937,500 purchase, 80% LTV, 740 FICO, 30-year fixed, priced April 13, 2026.

Question 2

Do I need 20% down to avoid PMI on a conforming loan?

Accepted Answer

Yes — 20% down (80% LTV) is the only way to skip PMI on a conforming loan. Below 20%, PMI applies until you reach 78% LTV. At 10% down, you'd carry PMI for roughly 8–10 years before it cancels.

Question 3

What credit score do I need to qualify for a conforming loan in Hayward?

Accepted Answer

620 FICO is the minimum. Lenders offer the best rates at 740+. Below 680, you'll pay a rate adjustment. Most Hayward buyers with 740+ FICO and 20% down close in 30–45 days.

Question 4

Can I buy a $1.2M home in Hayward with a conforming loan?

Accepted Answer

Yes — the conforming limit in Alameda County is $1,249,125. A $1.2M purchase stays conforming. Rates stay the same as a $937,500 loan, but your monthly payment climbs roughly $600 for the extra $450K borrowed.

Question 5

How does a conforming loan compare to a jumbo loan at this price?

Accepted Answer

Conforming rates run 0.375% lower than jumbo at the same FICO and down payment. At $937,500, that's roughly $280 per month in savings. Jumbo requires 20% down and tighter underwriting, but it's the only option above $1,249,125.

Conforming 30-year fixed loans in Hayward: 5.875% with 20% down