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Union City sits in Alameda County where the median household income of $126,240 supports homes in the $900K range. At 5.875%, a $750,000 conventional loan runs $4,437 monthly in principal and interest alone.
The East Bay restaurant scene is expanding fast—new Filipino, burger, and Nicaraguan spots just opened nearby. Homebuyers here are betting on neighborhood growth and walkability.
5.875%
Interest Rate
$4,437
Monthly P&I
620 minimum
FICO Required
$750,000
Loan Amount
20% ($187.5K)
Down Payment
21–30 days
Close Timeline
Conventional Loans in Union City
Conventional loans in Union City require a 620 FICO floor, but 740+ gets the best pricing. Down payment ranges from 5% to 20%—at 20% (80% LTV), PMI vanishes entirely. Below 20%, PMI stays until you hit 78% LTV or refinance.
Alameda County's $126,240 median household income stretches to cover a $750K loan comfortably. Most lenders want debt-to-income under 43%, meaning a $937,500 purchase fits buyers earning $110K–$130K. Reserves (liquid assets) of 2–6 months are standard.
Local decision guide
Use this guide to connect conventional loans eligibility, lender expectations, and local market factors before comparing payment options in Union City.
Union City sits in Alameda County where the median household income of $126,240 supports homes in the $900K range. At 5.875%, a $750,000 conventional loan runs $4,437 monthly in principal and interest alone.
The East Bay restaurant scene is expanding fast—new Filipino, burger, and Nicaraguan spots just opened nearby. Homebuyers here are betting on neighborhood growth and walkability.
Conventional loans in Union City require a 620 FICO floor, but 740+ gets the best pricing. Down payment ranges from 5% to 20%—at 20% (80% LTV), PMI vanishes entirely. Below 20%, PMI stays until you hit 78% LTV or refinance.
California's conventional market is split between retail banks, credit unions, and mortgage brokers. Retail lenders (Wells Fargo, Bank of America) move slower but offer branch support.
Agency loans (Fannie Mae, Freddie Mac) dominate the $750K range because they're cheaper to fund than jumbo. Underwriting is standardized across lenders, so your FICO, DTI, and reserves matter more than the lender's name.
Conventional pencils hard in Union City at the $750K level. You're well below the $1.249M conforming limit, so you avoid jumbo pricing. At 80% LTV with a 740 FICO, you're in the sweet spot—no PMI, no overlays, no surprises.
The only time conventional doesn't work here is if you're putting down less than 5%. Below that, FHA's 3.5% minimum becomes cheaper despite lifetime mortgage insurance. Above $937K, jumbo rates kick in and conventional stops being the obvious choice.
FHA loans run lower rates than conventional but carry lifetime mortgage insurance if you put down less than 10%. At 20% down, conventional wins because PMI cancels and you keep the rate. FHA's insurance never goes away unless you refinance.
VA loans (if you're eligible) offer zero down with no PMI, but the funding fee replaces insurance. Call for today's VA quote to compare. For most Union City buyers at this price point, conventional at 80% LTV is the cleanest path.
The East Bay restaurant boom—Filipino, burger, and Nicaraguan spots just opened—signals neighborhood investment. New dining anchors drive foot traffic and property values.
Dublin's 113-unit senior affordable housing project and Berkeley's Measure W funding show county-level commitment to housing. That infrastructure spending supports long-term home values across Alameda.
At 5.875% APR on a $750,000 loan, principal and interest run $4,437 monthly. That's the scenario as of April 18, 2026, on a 30-year fixed with 20% down ($937,500 purchase). Property taxes and insurance add to that total.
Yes. At 20% down (80% LTV), PMI cancels entirely. Below 20%, you pay PMI until you hit 78% LTV or refinance. At 10% down, PMI stays for years. 20% is the only way to skip it from day one.
620 FICO is the floor, but 740+ gets the best rates and terms. Below 700, lenders tighten overlays and may charge 0.25–0.5% more. At 740, you're in the sweet spot with no penalties.
Most lenders close conventional loans in 21–30 days. Brokers and credit unions tend to move faster than retail banks. Clean files (good credit, solid income, low debt) close in 21 days. Messy files can stretch to 45 days.
Yes, but you'll pay PMI. At 10% down, PMI adds $150–$250 monthly. At 5% down, it's $250–$400 monthly. The rate itself doesn't change, but the total payment climbs. Run the math: sometimes FHA's lower rate beats conventional's PMI cost below 10% down.