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La Puente sits in the heart of Los Angeles County's affordable corridor. A $937,500 purchase with 20% down runs $4,437 monthly principal and interest at 5.875%. That payment fits comfortably for households earning the county's median of $87,760 annually.
Conventional loans dominate this price range because jumbo rates climb sharply above $1.25M. At 80% LTV with a 740 FICO, you skip PMI entirely — no insurance premium, no rate penalty. That's the real advantage of 20% down in La Puente's market.
5.875%
Interest Rate
$4,437
Monthly P&I
620 minimum
FICO Required
$750,000
Loan Amount
5–25%
Down Payment
30–40 days
Close Timeline
Conventional Loans in La Puente
Conventional loans in La Puente require a 620 FICO minimum, but 740+ gets you the best rates and terms. Down payment ranges from 5% to 25%; at 20% down you eliminate PMI entirely.
Los Angeles County's median household income of $87,760 supports a $750K loan comfortably at 43% DTI. That's roughly $3,200 monthly gross income needed. Self-employed borrowers face tighter scrutiny — two years of tax returns required.
Local decision guide
Use this guide to connect conventional loans eligibility, lender expectations, and local market factors before comparing payment options in La Puente.
La Puente sits in the heart of Los Angeles County's affordable corridor. A $937,500 purchase with 20% down runs $4,437 monthly principal and interest at 5.875%. That payment fits comfortably for households earning the county's median of $87,760 annually.
Conventional loans dominate this price range because jumbo rates climb sharply above $1.25M. At 80% LTV with a 740 FICO, you skip PMI entirely — no insurance premium, no rate penalty. That's the real advantage of 20% down in La Puente's market.
Conventional loans in La Puente require a 620 FICO minimum, but 740+ gets you the best rates and terms. Down payment ranges from 5% to 25%; at 20% down you eliminate PMI entirely.
California's conventional market splits between retail banks and mortgage brokers. Brokers typically close in 30–40 days and offer rate locks up to 60 days. Retail banks move slower but sometimes match broker pricing on volume.
Agency loans (Fannie Mae, Freddie Mac) dominate the $750K range in La Puente. No portfolio lenders or private money at this price point. Appraisals run 7–10 days. Underwriting is standardized — overlays are minimal for 740+ FICO borrowers with W-2 income.
Conventional 30-year fixed makes sense in La Puente when you have 20% down and a 740+ FICO. The math is clean: no PMI, no rate penalty, simple underwriting.
The breakeven happens around $650K purchase price. Below that, FHA's lower rate outweighs the insurance cost over 10 years. Above $900K, conventional's PMI-free structure wins decisively. At $937,500 with 20% down, conventional is the right call.
FHA loans in La Puente run a lower rate but carry lifetime mortgage insurance if you put down less than 10%. At 20% down, FHA's insurance cancels after 11 years. Conventional's PMI vanishes at 80% LTV — immediately, with no waiting period.
The real difference: conventional at 20% down costs less over time. FHA's lower starting rate doesn't offset 11 years of insurance premiums. Call for today's FHA quote to compare, but the numbers favor conventional here.
La Puente's location on the San Gabriel Valley's eastern edge puts you 30 minutes from downtown LA and 20 minutes from the San Gabriel Mountains. Schools in the Hacienda La Puente Unified District serve the area.
The city's affordability relative to nearby Walnut and Diamond Bar makes it attractive for first-time 20%-down buyers. Property taxes run 1.25% of purchase price, factored into your monthly payment estimate.
Principal and interest run $4,437 monthly at 5.875% on a 30-year fixed. That's based on a $937,500 purchase, $187,500 down (20%), 740 FICO, 80% LTV. Add property taxes, insurance, and HOA — roughly $800–900 more monthly.
Yes — 20% down (80% LTV) is the only way to skip PMI on a conventional loan. Below 20%, PMI is required and costs 0.5–1.5% annually of the loan amount. PMI cancels automatically at 78% LTV under the Homeowners Protection Act.
The minimum is 620 FICO, but 740+ gets you the best rates and terms. At 740 FICO with 20% down, you qualify for standard pricing with no overlays. Below 680, expect rate adjustments and tighter debt-to-income limits.
Conventional loans typically close in 30–40 days. Appraisals take 7–10 days. Underwriting is faster than FHA because there's no mortgage insurance approval step.
Yes — conventional loans accept 5–19.99% down. PMI is required below 20%. At 10% down on a $937,500 purchase, PMI runs roughly $300–400 monthly. At 5% down, expect $500–600 monthly. PMI cancels at 78% LTV.