Question 1

What's the monthly payment on a $750,000 conventional loan in San Leandro?

Accepted Answer

At 5.875% on a $750,000 loan, principal and interest run $4,437 monthly. That's based on a $937,500 purchase with 20% down, 740 FICO, 30-day lock as of April 13, 2026. Add taxes, insurance, and HOA if applicable.

Question 2

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

Accepted Answer

Yes. 20% down (80% LTV) is the only way to skip PMI on a conventional loan. Below 20%, PMI is required and cancels at 78% LTV or upon request at 80%. Above 20%, there is no PMI and no rate penalty.

Question 3

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

Accepted Answer

The minimum is 620 FICO, but 740+ gets the best rates and terms. Most lenders tighten overlays below 680. At 740, you qualify for standard pricing with minimal documentation.

Question 4

How long does a conventional loan close in the Bay Area?

Accepted Answer

Mortgage brokers typically close in 30-45 days. Banks run 45-60 days. Appraisal and title take 7-10 days each. Underwriting runs 5-7 business days. Lock periods range 15-60 days.

Question 5

Is Alameda County's median income enough to qualify for a $750K conventional loan?

Accepted Answer

Yes. Alameda County's median household income is $126,240. A $750,000 loan at 5.875% fits within standard debt-to-income limits (43-50%) for most borrowers with stable employment and reserves.

Conventional 30-Year Fixed Mortgages in San Leandro