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Placentia sits in Orange County's central corridor where $937,500 purchases a solid single-family home. At 5.875%, your monthly payment on a $750,000 conventional loan runs $4,437 — well within reach for county households earning the median $113,702 annually.
Conventional loans dominate this price range because Placentia's market supports 20% down payments without strain. The 80% LTV threshold means no PMI, no rate penalty, and straightforward underwriting. Closing typically takes 30-45 days.
5.875%
Interest Rate
$4,437
Monthly Payment (P&I)
740
FICO Minimum
$750,000
Loan Amount
20% ($187,500)
Down Payment
30 days
Lock Period
Conventional Loans in Placentia
Conventional loans in Placentia require a 740 FICO minimum, though 760+ gets you better pricing. Down payment ranges from 5% to 25%, but at 20% down (80% LTV) you eliminate PMI entirely. Below 20%, PMI kicks in and adds $150-$300 monthly depending on your LTV.
Orange County's median household income of $113,702 supports homes in the $750K-$900K range comfortably. Debt-to-income ratio caps at 43-50% depending on reserves and credit. Most lenders want 2-6 months of reserves in liquid assets.
Local decision guide
Use this guide to connect conventional loans eligibility, lender expectations, and local market factors before comparing payment options in Placentia.
Placentia sits in Orange County's central corridor where $937,500 purchases a solid single-family home. At 5.875%, your monthly payment on a $750,000 conventional loan runs $4,437 — well within reach for county households earning the median $113,702 annually.
Conventional loans dominate this price range because Placentia's market supports 20% down payments without strain. The 80% LTV threshold means no PMI, no rate penalty, and straightforward underwriting. Closing typically takes 30-45 days.
Conventional loans in Placentia require a 740 FICO minimum, though 760+ gets you better pricing. Down payment ranges from 5% to 25%, but at 20% down (80% LTV) you eliminate PMI entirely. Below 20%, PMI kicks in and adds $150-$300 monthly depending on your LTV.
California's conventional market splits between retail banks and mortgage brokers. Retail lenders (Wells Fargo, Chase, Bank of America) move slower but offer in-house servicing.
Agency loans (Fannie Mae and Freddie Mac) dominate Placentia because they're cheaper than jumbo and faster than portfolio loans. Most lenders price daily. Appraisals run 7-10 days, underwriting 5-7 days. Lock periods range 15-60 days.
Conventional 30-year fixed pencils in Placentia when you have 20% down and a 740+ FICO. At $937,500, that's $187,500 down — achievable for county earners. PMI-free means your rate stays clean at 5.875% with no insurance drag.
Below 20% down, conventional gets expensive fast. PMI adds $200-$300 monthly on a $750K loan. At that point, FHA's lower rate (despite lifetime insurance) might pencil better. Call for FHA pricing if you're putting down 10-15%.
FHA loans run a lower rate than conventional but carry mortgage insurance for life if you put down less than 10%. At 10%+ down, FHA insurance cancels after 11 years. Conventional PMI cancels at 78% LTV automatically — usually 5-7 years.
For Placentia buyers with 20% down, conventional is simpler: no insurance ever, no refinance needed to shed it. FHA shines if you're putting 5-10% down and want a lower starting rate. Call for today's FHA quote to compare.
Placentia's location in central Orange County puts you 20 minutes from Santa Ana and 30 minutes from Irvine job centers. Schools feed into Placentia-Yorba Linda Unified, which ranks solid for the county.
The area's stable, family-oriented character means homes hold value. Conventional financing at 80% LTV signals to sellers that you're serious — no appraisal contingencies, faster close. That matters in Placentia's competitive market.
At 5.875% on a $750,000 loan, your principal and interest run $4,437 monthly. Add property tax, insurance, and HOA (if applicable) — typically $800-$1,200 more.
Yes. At 20% down (80% LTV), there is no PMI and no rate penalty. Below 20%, PMI is required and adds $150-$300 monthly. PMI cancels automatically at 78% LTV, usually 5-7 years in. You can request cancellation at 80% LTV if you've paid on time.
740 FICO is the minimum. Scores 760+ get better pricing. Most lenders allow 680-700 with compensating factors (large reserves, low debt-to-income). Below 680, conventional becomes difficult; FHA is the better path.
30-45 days is typical. Appraisal takes 7-10 days, underwriting 5-7 days. Lock period is 30 days standard. Brokers often close faster (30-40 days) than retail banks (45-60 days). Your lender will confirm the exact timeline.
Conventional wins if you have 20% down and a 740+ FICO — no insurance, clean rate. FHA is cheaper if you're putting 5-10% down, despite lifetime insurance below 10% down. Call for FHA pricing to compare. Both close in 30-45 days.