Question 1

What's the monthly payment on a $750,000 conventional loan at 5.875%?

Accepted Answer

Principal and interest run $4,437 monthly. Add property taxes, insurance, and HOA fees if applicable. The full payment depends on your specific property and location within Napa County.

Question 2

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

Accepted Answer

Yes. 20% down (80% LTV) is the only way to skip PMI entirely on a conventional loan. Below 20%, PMI is required and cancels automatically at 78% LTV under the Homeowners Protection Act.

Question 3

What credit score do I need for a conventional loan in Napa?

Accepted Answer

740 FICO is the minimum for conventional loans at this price point. Scores above 760 may qualify for slightly better rates. Below 740, FHA becomes a stronger option.

Question 4

How long does it take to close a conventional loan in Napa?

Accepted Answer

Typical timeline is 30–45 days from application to funding. Napa's straightforward market and strong local lender presence support faster closings. Appraisal and title work are the main variables.

Question 5

Is conventional better than FHA for a $750,000 purchase in Napa?

Accepted Answer

Yes, if you have 20% down and a 740+ FICO. Conventional avoids lifetime mortgage insurance. FHA's lower rate doesn't offset the permanent insurance cost at this loan size and down payment level.

Conventional 30-Year Fixed Mortgages in Napa — 5.875% Rate, 20% Down