Question 1

What's the monthly payment on a $750,000 conforming loan at today's rate?

Accepted Answer

At 5.875% on a $750,000 loan, principal and interest run $4,437 per month. Add property taxes, insurance, and HOA fees for your total housing cost. This assumes 80% LTV, 740 FICO, 30-year fixed, 30-day lock.

Question 2

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

Accepted Answer

Yes — 20% down (80% LTV) is the only way to skip PMI on a conforming loan. Below 20%, PMI applies. It cancels automatically at 78% LTV under the Homeowners Protection Act.

Question 3

Can I get a conforming loan with 5% down in San Jacinto?

Accepted Answer

Yes. Conforming loans accept 5% down with PMI. You'll pay mortgage insurance until you reach 78% LTV through principal paydown or refinancing. Rates are the same whether you put 5% or 20% down.

Question 4

What credit score do I need for a conforming loan?

Accepted Answer

The minimum is 620 FICO, but 740+ gets the best rates like the 5.875% shown here. Lenders tighten overlays below 680, so expect higher rates or larger down payments if your score is lower.

Question 5

How long does a conforming loan close in California?

Accepted Answer

Conforming loans typically close in 30 to 45 days. Agency rules are standardized, so underwriting is faster than jumbo or portfolio loans. Your lender's volume and your documentation speed matter most.

Conforming 30-year fixed mortgages in San Jacinto: 5.875% on $750K loans