Question 1

What's the monthly payment on a $750,000 FHA loan in Pleasant Hill right now?

Accepted Answer

At 5.375% on a $750,000 FHA loan, principal and interest run $4,200 per month. Add property tax, insurance, and MIP — roughly $1,200–$1,400 more — and your total is around $5,400–$5,600. That's based on the April 9, 2026 rate.

Question 2

Do I need 20% down to get an FHA loan in Pleasant Hill?

Accepted Answer

No. FHA requires just 3.5% down minimum with a 580 FICO. On a $777K purchase, that's $27,202 down. You avoid the 20% down requirement entirely, which is FHA's biggest advantage for first-time buyers.

Question 3

Will my FHA mortgage insurance ever go away?

Accepted Answer

Only if you put down 10% or more. With less than 10% down, MIP stays for the life of the loan unless you refinance. With 10%+ down, MIP cancels after 11 years. Most FHA buyers refinance to conventional once they hit 20% equity.

Question 4

What credit score do I need to qualify for FHA in Pleasant Hill?

Accepted Answer

FHA's floor is 580 FICO, but California lenders typically want 620+ for competitive rates. At 740 FICO, you qualify easily and get the best pricing. Below 620, expect rate bumps or stricter overlays.

Question 5

How does FHA compare to a conventional loan at 10% down?

Accepted Answer

Conventional at 10% down carries PMI that cancels at 78% LTV, roughly 8–10 years. FHA at 10% down carries MIP that cancels after 11 years. Both have insurance, but conventional's cancels sooner.

FHA 30-year fixed in Pleasant Hill: 5.375% rate, 3.5% down, no 20% requirement