Question 1

What's the monthly payment on a $750,000 conforming loan in Long Beach?

Accepted Answer

At 5.875% on a $750,000 loan, principal and interest run $4,437/month. That's 80% LTV, 740 FICO, 30-year fixed, priced April 8, 2026. Property taxes, insurance, and HOA fees are separate.

Question 2

Do I need 20% down to avoid PMI on a conforming loan?

Accepted Answer

Yes. 20% down (80% LTV) eliminates PMI entirely. Below 20%, PMI applies and cancels automatically at 78% LTV. Every 1% down below 20% adds roughly $150–$200/month in insurance.

Question 3

What credit score do I need for a conforming loan in Long Beach?

Accepted Answer

Minimum is 620 FICO, but 740+ gets the best rates and terms. Below 700, you'll pay a rate premium and may face tighter underwriting. At 740+, you qualify for the rates shown here.

Question 4

How long does it take to close a conforming loan in Long Beach?

Accepted Answer

Typical timeline is 30–45 days from application to funding. Appraisals and title work are the slowest steps. A clean file with no title issues closes closer to 30 days.

Question 5

Is a conforming loan better than FHA in Long Beach?

Accepted Answer

At 20% down, conforming wins—no PMI and a competitive rate. Below 20%, compare both. FHA's rate runs lower but insurance never cancels unless you refinance. Run the 30-year cost on both.

Conforming 30-year fixed mortgages in Long Beach: 5.875% with 20% down