Question 1

What's the monthly payment on a $750,000 conforming loan at today's rate?

Accepted Answer

Principal and interest run $4,437 monthly. That's on a $750,000 loan at 5.875% with 20% down ($187,500), 740 FICO, 30-year fixed, locked 30 days as of April 13, 2026. Add taxes, insurance, and HOA if applicable.

Question 2

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

Accepted Answer

Yes. At 20% down (80% LTV), there is no PMI and no rate penalty. Below 20%, PMI kicks in. At 78% LTV, PMI cancels automatically. Conforming loans have no other way to skip insurance.

Question 3

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

Accepted Answer

740 FICO is the floor for best rates. You can qualify with 680–700, but expect a rate bump of 0.25–0.5%. Mariposa lenders follow standard FHFA rules — no local overlays.

Question 4

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

Accepted Answer

30–45 days. Conforming loans are straightforward: credit, income, appraisal, title. No surprises if your file is clean. Most close in 35 days.

Question 5

Is a conforming loan better than FHA for a Mariposa home?

Accepted Answer

At 20% down, conforming and FHA rates are nearly identical. Conforming has no mortgage insurance; FHA's insurance never cancels. Conforming wins. Below 10% down, FHA might save 0.125% but costs you insurance for life.

Conforming 30-year fixed mortgages in Mariposa: 5.875% for $750K loans