Question 1

What's my monthly payment on a $750,000 conventional loan in Huntington Beach?

Accepted Answer

$4,437 principal and interest at 5.875%. Add property taxes, insurance, and HOA fees—typically $1,200–$1,800 more per month depending on the exact property.

Question 2

Do I need 20% down to avoid PMI?

Accepted Answer

Yes. At 20% down ($187,500), PMI cancels immediately. Below 20%, you pay PMI until you hit 80% LTV through appreciation or extra payments.

Question 3

How long does approval take for a conventional loan?

Accepted Answer

21 to 30 days if your file is clean—tax returns, pay stubs, and bank statements all match. Appraisal and title work add another 7–10 days.

Question 4

Can I lock my rate before I find a home?

Accepted Answer

No. Rate locks attach to a specific property and loan amount. You lock after you're under contract, usually for 30, 45, or 60 days.

Question 5

What credit score do I need?

Accepted Answer

740 FICO gets you the best rates and terms. Lenders will go lower (620–680) but charge higher rates and require larger down payments.

Conventional 30-year fixed in Huntington Beach