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La Mesa sits in San Diego County where the median household income of $102,285 supports homes in the $900K range. At 5.875%, a $750K conforming loan runs $4,437 monthly in principal and interest alone.
The conforming limit here is $1,104,000, so most La Mesa purchases fit this program without jumbo pricing. That 80% LTV scenario means 20% down — no PMI, no rate penalty for the down payment size.
5.875%
Interest Rate
$4,437
Monthly P&I
620
Min FICO
$750,000
Loan Amount
20% ($187.5K)
Down Payment
30-45 days
Typical Close
Conforming Loans in La Mesa
Conforming loans in La Mesa require a 620 FICO minimum, though 740+ gets the best pricing. Down payment ranges from 5% to 25%, but 20% eliminates PMI entirely.
Debt-to-income limits run 43-50% depending on the lender and compensating factors. A $750K loan at $4,437 monthly P&I plus taxes, insurance, and HOA (if any) needs household income around $150K to stay comfortably under 43% DTI.
Local decision guide
Use this guide to connect conforming loans eligibility, lender expectations, and local market factors before comparing payment options in La Mesa.
La Mesa sits in San Diego County where the median household income of $102,285 supports homes in the $900K range. At 5.875%, a $750K conforming loan runs $4,437 monthly in principal and interest alone.
The conforming limit here is $1,104,000, so most La Mesa purchases fit this program without jumbo pricing. That 80% LTV scenario means 20% down — no PMI, no rate penalty for the down payment size.
Conforming loans in La Mesa require a 620 FICO minimum, though 740+ gets the best pricing. Down payment ranges from 5% to 25%, but 20% eliminates PMI entirely.
California's conforming market is competitive. Brokers and retail lenders both offer conforming loans, with brokers typically accessing multiple wholesale lenders and retail banks offering their own products.
Conforming loans close in 30-45 days on average. San Diego County lenders are familiar with the market and process applications quickly. Most lenders will lock your rate for 30, 45, or 60 days — longer locks cost slightly more.
Conforming loans make sense in La Mesa when you're putting 20% down and have a 740+ FICO. The rate is competitive, there's no PMI, and the loan amount stays well under the $1,104,000 limit. This is the cleanest path for a $750K purchase.
Where conforming doesn't pencil: if you're putting down less than 20%, PMI adds $150-250 monthly. At that point, FHA with its lower rate but lifetime insurance might be worth comparing — call for today's FHA quote to see the tradeoff.
FHA loans run a lower rate than conforming but carry mortgage insurance for the life of the loan if you put down less than 10%. With 10% down, FHA insurance cancels after 11 years. Conforming at 20% down has zero insurance and no rate penalty.
The math: FHA's lower rate saves you money in year one, but conforming's zero PMI wins over 10+ years. If you have 20% down and solid credit, conforming is cleaner. If you're at 10% down, FHA might save money overall — call for today's FHA rate to compare.
La Mesa's location between downtown San Diego and the East County foothills makes it attractive to buyers who want suburban living with city access.
The area's median home price around $937,500 aligns with conforming loan limits, so you're not fighting jumbo pricing. That keeps your rate competitive and your closing costs lower than jumbo deals.
Principal and interest run $4,437 monthly. Add property taxes (roughly $300-400/month), homeowners insurance ($150-200/month), and HOA if applicable. Total housing payment typically lands $5,000-5,500 monthly depending on your property.
Yes — 20% down (80% LTV) is the only way to skip PMI on a conforming loan. Below 80% LTV, PMI is required and runs $150-250 monthly on a $750K loan. PMI cancels automatically at 78% LTV under the Homeowners Protection Act.
620 FICO is the minimum, but 740+ gets the best rate. At 620-679, you'll pay 0.5-1% more in rate. Most lenders prefer 700+ for smooth approval and faster closing.
Yes. Most lenders offer 30, 45, and 60-day locks. A 60-day lock costs about 0.125% more in rate but gives you time if your sale is pending or you need extra time to close.
Typically 30-45 days. San Diego lenders are efficient with conforming loans since they're the most common product. Appraisal and title work are the main timeline drivers.