Question 1

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

Accepted Answer

At 5.875% on a $750,000 loan, principal and interest run $4,437 monthly. Add property taxes, insurance, and HOA if applicable. The full scenario: 5.875% APR, $937,500 purchase, $187,500 down (20%), 740 FICO, 30-day lock, dated April 8, 2026.

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 automatically at 78% LTV or on request at 80% LTV.

Question 3

What credit score do I need for a conventional loan in Crescent City?

Accepted Answer

Lenders require 620+ FICO minimum, but the best rates (like 5.875% shown here) require 740+. Between 620–739, you'll pay 0.25–0.5% more in rate. At 740+, you're competing for the lowest available pricing.

Question 4

How long does it take to close a conventional loan here?

Accepted Answer

Conventional loans close in 30–40 days with a broker, 35–45 days with a retail bank. Crescent City's small market means fewer appraisers and title companies, so 40 days is typical. Rush closings (21 days) cost extra and require clean files.

Question 5

Can I get a conventional loan if my income is $66,000 a year?

Accepted Answer

Yes, but you'd qualify for roughly $350K–$400K at standard 43% DTI. At $937,500, you'd need household income around $100K+ or significant assets. Del Norte's median household income is $66,780 — most buyers here stay in the $400K–$550K range.

Conventional 30-Year Fixed Mortgages in Crescent City, CA