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Escondido's median home price sits near $937,500, where a conventional 30-year fixed at 5.875% carries a $4,437 monthly payment on principal and interest alone. That's the baseline for buyers putting 20% down and holding a 740 FICO score.
San Diego County's median household income of $102,285 stretches to cover homes in this range, though it requires careful debt management. Most buyers here are refinancing up from smaller properties or relocating with equity from elsewhere in California.
5.875%
Interest Rate
$4,437
Monthly P&I
740
FICO Minimum
80%
LTV at 20% Down
21-30 days
Typical Close
Conventional Loans in Escondido
Conventional loans in Escondido require a 740 FICO minimum and 20% down to avoid PMI entirely. At 80% LTV, you're at the threshold where mortgage insurance cancels.
A $937,500 purchase with 20% down ($187,500) means a $750,000 loan. San Diego County's median household income of $102,285 supports this debt level if your total monthly obligations stay below 43% of gross income.
Local decision guide
Use this guide to connect conventional loans eligibility, lender expectations, and local market factors before comparing payment options in Escondido.
Escondido's median home price sits near $937,500, where a conventional 30-year fixed at 5.875% carries a $4,437 monthly payment on principal and interest alone. That's the baseline for buyers putting 20% down and holding a 740 FICO score.
San Diego County's median household income of $102,285 stretches to cover homes in this range, though it requires careful debt management. Most buyers here are refinancing up from smaller properties or relocating with equity from elsewhere in California.
Conventional loans in Escondido require a 740 FICO minimum and 20% down to avoid PMI entirely. At 80% LTV, you're at the threshold where mortgage insurance cancels.
California's conventional market is split between retail banks, credit unions, and mortgage brokers. Retail banks move slower but offer relationship perks.
Fannie Mae and Freddie Mac set the rules for all conventional loans statewide. They require appraisals, title insurance, and proof of funds. Most lenders price daily, so rates shift with the bond market. A 30-day lock holds your rate while underwriting runs.
Conventional makes sense in Escondido when you have 20% down and a 740+ FICO. Below that, FHA's 3.5% down and lower credit floor become attractive—even with lifetime mortgage insurance.
The math favors conventional here because San Diego County's median income supports the debt load without strain. If you're stretching to afford the down payment, FHA's lower upfront cost might save you $50,000-$100,000 in cash at closing.
FHA loans start with a lower down payment (3.5% minimum) and accept credit scores as low as 580. But FHA mortgage insurance never cancels if you put down less than 10%. Over 30 years, that's real money—call for today's FHA quote to compare.
Conventional's advantage is clean math: hit 80% LTV, PMI vanishes. FHA's advantage is lower upfront cash. Which wins depends on whether you have the down payment or need to preserve reserves for closing costs and repairs.
Escondido's real estate market moves steadily. Homes in the $900K range typically sell within 30-45 days. That pace gives conventional buyers time to lock rates and close without rushing underwriting.
The city sits 30 miles north of downtown San Diego, making it attractive for remote workers and families seeking space without the coastal premium.
At 5.875% on a $750,000 loan, principal and interest run $4,437 per month. Add property taxes, insurance, and HOA fees—typically $800-$1,200 more. The full payment depends on your specific property and location within Escondido.
Yes. At 80% LTV (20% down), PMI cancels entirely. Below 80% LTV, you pay mortgage insurance until you hit 78% LTV or refinance. There's no rate penalty for having no PMI—20% down is the only way to skip it.
740 FICO is the floor for best rates and terms. Some lenders go as low as 620, but your rate jumps 0.5-1.0% and you'll need 25% down instead of 20%. Most Escondido buyers qualify at 740+.
Conventional loans typically close in 21-30 days with a clean file. Escondido's market moves at a normal pace, so underwriting doesn't get bottlenecked. Appraisal and title usually clear within 10-14 days.
Yes, but you'll pay PMI. At 10% down (90% LTV), PMI runs until you hit 78% LTV. At 5% down, PMI stays even longer. FHA's 3.5% down might cost less upfront if you can't reach 20%—compare both.