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Conventional Loans in Lafayette
What's the monthly payment on a $750,000 conventional loan at 6.25%?
Principal and interest run $4,618 per month on a $750,000 loan at 6.25% APR. At 80% LTV with 20% down, there's no PMI.
01
Contra Costa County is investing in infrastructure across the region. The new East County Service Center in Brentwood signals continued growth and stability for buyers here.
On a $750,000 loan at 6.25%, your principal and interest payment is $4,618 per month. Contra Costa County's median household income of $125,727 supports this payment comfortably for qualified buyers.
6.25%
Interest Rate
$4,618
Monthly P&I
620 minimum
FICO Required
5% to 20%
Down Payment
$1,249,125
2026 Conforming Limit
02
Conventional loans require a minimum 620 FICO score. Down payments range from 5% to 20%. At 20% down, you skip PMI entirely and lock in the best available rate.
Contra Costa County's median household income of $125,727 supports purchases in the $750,000 range. Your debt-to-income ratio typically caps at 43% to 50%. Lenders verify income, assets, and employment history before approval.
Local decision guide
Use this guide to connect conventional loans eligibility, lender expectations, and local market factors before comparing payment options in Lafayette.
Contra Costa County is investing in infrastructure across the region. The new East County Service Center in Brentwood signals continued growth and stability for buyers here.
On a $750,000 loan at 6.25%, your principal and interest payment is $4,618 per month. Contra Costa County's median household income of $125,727 supports this payment comfortably for qualified buyers.
Conventional loans require a minimum 620 FICO score. Down payments range from 5% to 20%. At 20% down, you skip PMI entirely and lock in the best available rate.
Rate check
Tell us the price range, down payment and credit range you are working with. We compare every lender we work with and show you the options side by side.
03
California conventional lending is dominated by agency lenders—Fannie Mae and Freddie Mac. Brokers and retail banks compete on rate and service. Closing typically takes 17 to 21 days.
The 2026 conforming limit is $1,249,125 for conventional mortgages in Contra Costa County. Above that threshold, you'll need a jumbo loan. Most Lafayette purchases stay within conforming range.
04
Conventional 30-year fixed makes sense in Lafayette when you have 10% or more down and a 700+ FICO. The rate is competitive and PMI is predictable. You avoid the lifetime insurance cost of FHA.
At $750,000 with 20% down, conventional pencils well because you're at 80% LTV. The payment is stable and PMI-free. If you're closer to 5% down, run the FHA math first.
05
FHA loans run a lower rate than conventional but carry mortgage insurance for life if down payment is under 10%. At 20% down, conventional has no PMI. The choice hinges on your down payment.
Conventional at 80% LTV beats FHA on total cost over 30 years when you have the down payment. FHA shines if you're putting down 3.5% and want the lowest upfront payment. Neither is universally better.
06
Richmond parks are receiving multi-million dollar upgrades including new soccer fields and restrooms. State and federal grants fund this work. Public investment signals confidence in the region's future.
Lafayette sits in a stable community with good schools and reliable infrastructure. Broader Contra Costa County investment in services reinforces the area's appeal. That stability supports long-term resale value.
07
Conventional lending in California remains steady as agency lenders maintain consistent pricing. Broker competition keeps rates tight. Volume fluctuates with market conditions, but conventional stays the dominant loan type.
Lafayette buyers benefit from a mature, competitive lending market. Multiple lenders compete for conventional business. The 2026 conforming limit of $1,249,125 covers most local purchases without jumbo pricing.
FAQ
Principal and interest run $4,618 per month on a $750,000 loan at 6.25% APR. At 80% LTV with 20% down, there's no PMI.
Yes — conventional loans start at 5% down. You'll pay PMI until you reach 80% LTV. With 20% down, PMI disappears entirely.
The minimum is 620 FICO, but 740+ gets the best rates. Most lenders prefer 680 or higher for smooth approval. Higher scores mean lower rates.
Conventional loans typically close in 17 to 21 days. The timeline depends on appraisal turnaround and document verification. Clear documentation speeds the process.
Yes. PMI cancels automatically when you reach 78% LTV through principal paydown. You can also request cancellation at 80% LTV.
Programs for first-time buyers that allow lower down payments and more forgiving credit and income rules.
Explore refinancing options to lower your rate, tap equity, or switch loan terms.
SRK CAPITAL in Contra Costa County
Our team of licensed mortgage brokers works Contra Costa County every week. Tell us where you are in the process and we will map out the loan, the timeline and the money you need at closing, with no obligation.
What working with us looks like
Licensed mortgage brokers
You talk with a broker, not a call center, from the first question to closing day.
17-21 day typical close
Most purchase loans close in 17-21 days once your paperwork is in.
Every county in California
We work across the state, including Contra Costa County, so local limits and rules are already familiar.
Financing solutions for rental properties, fix-and-flip projects, and real estate portfolios.
Mortgage programs with alternative income documentation for business owners and freelancers.
Federally insured or guaranteed programs (FHA, VA, USDA) that let lenders accept lower credit scores and smaller down payments.
Traditional mortgage options meeting standard lending guidelines with various term structures.
Alternative lending programs for borrowers who need flexible documentation or unique loan structures.
Side-by-side comparisons to help you choose the right mortgage program.
This page is for educational purposes only and does not constitute financial, legal, or tax advice. Mortgage rates, terms, and program availability can change and vary by borrower and property. Consult a licensed mortgage professional for guidance on your scenario.