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Sand City sits in Monterey County, where coastal demand keeps home prices competitive. Conventional loans are the go-to financing tool for buyers who can qualify.
HousingWire flagged that the 30-year fixed hit 6.57% recently, pushing applications down sharply. For conventional borrowers, rate sensitivity is real — locking smart matters.
~6.57%
30-Year Fixed (Apr 2026)
620
Min Credit Score
20%
PMI-Free Down Payment
45%
Max DTI
200+
Lender Options
Conventional Loans in Sand City
Most lenders want a 620 credit score minimum. To skip private mortgage insurance (PMI), you need 20% down.
Debt-to-income ratio — your monthly debts divided by gross income — should stay under 45%. Stronger profiles get better pricing.
Local decision guide
Use this guide to connect conventional loans eligibility, lender expectations, and local market factors before comparing payment options in Sand City.
Sand City sits in Monterey County, where coastal demand keeps home prices competitive. Conventional loans are the go-to financing tool for buyers who can qualify.
HousingWire flagged that the 30-year fixed hit 6.57% recently, pushing applications down sharply. For conventional borrowers, rate sensitivity is real — locking smart matters.
Most lenders want a 620 credit score minimum. To skip private mortgage insurance (PMI), you need 20% down.
SRK CAPITAL shops conventional pricing across 200+ wholesale lenders. That means you're not stuck with one bank's rate sheet.
Retail banks rarely compete with wholesale pricing. Brokers access the same capital markets — without the branch overhead baked into your rate.
In Monterey County, appraisals can be tight. Coastal properties with unique features sometimes come in low. Have a backup plan.
If your score is above 740, push for the best conventional pricing tier. Every 20-point band below that costs you in rate adjustments.
FHA loans allow lower credit scores and smaller down payments. But they carry mortgage insurance for the life of the loan — conventional doesn't.
Jumbo loans kick in above the conforming loan limit. If your purchase price stays under that threshold, conventional is almost always the cleaner path.
Sand City is a small, incorporated city surrounded by Seaside and Monterey. Inventory tends to be limited — move fast when good properties surface.
Monterey County's military presence near Fort Ord adds buyer competition. VA buyers are in the mix, but conventional buyers can still win with clean offers.
Most lenders require at least 620. Scores above 740 get the best rate pricing available.
Yes. Put 20% down and PMI never applies. It also falls off once you reach 20% equity.
Conventional works better for stronger credit profiles. FHA suits buyers with lower scores or smaller down payments.
Rates vary by borrower profile and market conditions. As of April 2026, the 30-year fixed is near 6.57% per HousingWire.
Monterey County follows California's high-cost conforming limits. Ask us for the current figure before you shop.
Brokers access wholesale lenders banks can't offer you directly. That often means lower rates on the same loan product.