Question 1

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

Accepted Answer

At 5.875% on a $750,000 loan with 20% down ($187,500), principal and interest run $4,437 monthly. Add property tax, insurance, and HOA (if any) on top. This assumes a 740 FICO, 30-year fixed, primary residence, locked April 9, 2026.

Question 2

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

Accepted Answer

Yes. 20% down (80% LTV) is the threshold where PMI cancels entirely. Below 20%, PMI runs until you hit 78% LTV automatically or request cancellation at 80%. At 15% down, you'd carry insurance for years unless you refinance.

Question 3

Can I get a conventional loan with less than 20% down in King City?

Accepted Answer

Yes. Conventional loans accept 5% down, but PMI kicks in. At 10% down, PMI is lower than at 5%, and it cancels sooner. The trade: lower upfront cash but higher monthly payment. Run the numbers with your broker.

Question 4

What credit score do I need for a conventional loan here?

Accepted Answer

620 FICO is the legal minimum, but lenders prefer 680+. At 680–719, you may pay 0.25–0.5% more in rate. At 740+, you get par pricing. King City's agricultural market sometimes sees seasonal income — document it carefully.

Question 5

How long does a conventional loan close in King City?

Accepted Answer

Typically 21–30 days if your file is clean (W-2 income, stable credit, 20% down). Appraisals take 7–10 days. Self-employed borrowers or gift funds add 5–10 days. Lock your rate early; 30-day locks are standard.

Conventional 30-Year Fixed Mortgages in King City, CA