Question 1

What's the monthly payment on a $750K FHA loan in Escondido?

Accepted Answer

Principal and interest run $4,200/month at 5.375%. Add property taxes, insurance, and mortgage insurance (roughly $200-250/month).

Question 2

Can I get an FHA loan with a 600 FICO score?

Accepted Answer

Yes. FHA's minimum is 580 FICO. Most lenders prefer 640+, but 600 is workable if your income and debt ratios are clean. You'll pay a slightly higher rate. Call for a specific quote at your credit score.

Question 3

Does FHA mortgage insurance ever go away?

Accepted Answer

Yes, but only if you put down 10% or more. Then it cancels after 11 years. Below 10% down, MIP stays for the life of the loan unless you refinance to conventional. At 3.5% down, refinancing is your only exit.

Question 4

How much do I need to put down for an FHA loan?

Accepted Answer

Minimum 3.5% down. On a $777K home, that's roughly $27,200. You can go higher (5%, 10%) to trigger faster MIP cancellation. Most Escondido buyers start at 3.5% and refinance later when equity builds.

Question 5

What's the upfront cost of FHA mortgage insurance?

Accepted Answer

Upfront MIP is 1.75% of the loan amount. On $750K, that's $13,125, rolled into your loan. You also pay annual MIP (0.55% at 96.5% LTV), added to your monthly payment.

FHA 30-Year Fixed Loans in Escondido: 5.375% Rate, 3.5% Down