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Oceanside's coastal market sits at $937,500 for a typical single-family home. At 5.875%, a $750,000 conventional loan runs $4,437 monthly for principal and interest alone. That's the baseline for buyers putting 20% down with a 740 FICO.
San Diego County's median household income of $102,285 stretches to cover homes in this range with room for property taxes and insurance.
5.875%
Interest Rate
$4,437
Monthly P&I
740+
FICO Required
$750,000
Loan Amount
20% ($187.5K)
Down Payment
21-30 days
Close Timeline
Conventional Loans in Oceanside
Conventional loans in Oceanside require a 620 FICO minimum, but lenders compete hardest at 740+. Down payment ranges from 3% to 20%, though 20% eliminates PMI entirely. At 80% LTV you're buying at the conforming limit of $1,104,000 in San Diego County.
San Diego's median household income of $102,285 supports a $750,000 loan comfortably. Debt-to-income limits run 43-50% depending on reserves and credit profile.
Local decision guide
Use this guide to connect conventional loans eligibility, lender expectations, and local market factors before comparing payment options in Oceanside.
Oceanside's coastal market sits at $937,500 for a typical single-family home. At 5.875%, a $750,000 conventional loan runs $4,437 monthly for principal and interest alone. That's the baseline for buyers putting 20% down with a 740 FICO.
San Diego County's median household income of $102,285 stretches to cover homes in this range with room for property taxes and insurance.
Conventional loans in Oceanside require a 620 FICO minimum, but lenders compete hardest at 740+. Down payment ranges from 3% to 20%, though 20% eliminates PMI entirely. At 80% LTV you're buying at the conforming limit of $1,104,000 in San Diego County.
California's conventional market splits between retail banks, credit unions, and mortgage brokers. Retail lenders (Chase, Wells Fargo, Bank of America) move slower but offer branch support.
Agency loans (Fannie Mae, Freddie Mac) dominate the $750K range because they're standardized and liquid. Underwriting overlays vary by lender — some require appraisals, others skip them below certain LTVs.
Conventional makes sense in Oceanside when you have 20% down and a 740+ FICO. The math is simple: no PMI at 80% LTV saves $150-200 monthly versus a 10% down scenario. Over 30 years, that's $54,000-72,000 in pure insurance cost avoided.
It doesn't pencil when you're stretched on reserves or credit. If you're at 5% down with a 680 FICO, FHA's lower rate and upfront MIP might cost less over five years. Call for an FHA quote if you're below 20% down — the comparison matters.
FHA loans in Oceanside run a lower rate but carry mortgage insurance for life if you put down less than 10%. At 20% down, conventional has no insurance at all. FHA's upfront MIP (1.75% of loan) plus annual MIP adds $200-250 monthly — that's the tradeoff.
VA loans offer zero down with no PMI, but require a Certificate of Eligibility and a funding fee (2.15% first-time use). If you're eligible, VA wins on down payment. If you're not, conventional at 20% down beats FHA on lifetime cost.
Oceanside's coastal location drives buyer demand year-round. The city sits 30 miles north of downtown San Diego with direct beach access and a growing downtown district.
Conventional financing at 80% LTV works well for Oceanside buyers because the market moves fast. With no PMI payment eating into your offer power, you can compete on price rather than terms.
At 5.875% on a $750,000 loan, principal and interest run $4,437 monthly. Add property taxes, insurance, and HOA if applicable. The 0.196 discount points cost $1,470 upfront. This assumes 80% LTV, 740 FICO, 30-year term, primary residence.
Yes. At 80% LTV (20% down), there is no PMI required. Below 80% LTV, PMI is mandatory and cancels automatically at 78% LTV per the Homeowners Protection Act. You can request cancellation at 80% LTV if you've paid on time.
The minimum is 620 FICO, but lenders compete hardest at 740+. At 740, you get the best rates and terms. Below 680, you'll face higher rates and stricter underwriting. Most Oceanside buyers at this price point have 700+ FICO.
Conventional loans typically close in 21-30 days from application to funding. A 30-day lock period is standard. Brokers often close 5-10 days faster than retail banks because they access multiple lenders.
Conventional wins if you have 20% down and 740+ FICO. FHA's lower rate doesn't offset lifetime mortgage insurance unless you put down less than 10%. At 20% down, conventional has zero insurance cost. Call for both quotes to compare total 5-year cost.