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Solana Beach sits in San Diego County where the median household income of $102,285 supports homes in the $900K range. At 5.875%, a $750,000 conventional loan carries a $4,437 monthly payment for principal and interest alone.
The 20% down payment requirement here means $937,500 purchase prices need $187,500 cash upfront. That's the threshold where PMI cancels entirely — no insurance, no rate penalty, just a clean conventional loan.
5.875%
Interest Rate
$4,437
Monthly P&I
740+
Min FICO
$750,000
Loan Amount
20% ($187,500)
Down Payment
21-30 days
Close Timeline
Conventional Loans in Solana Beach
Conventional loans in Solana Beach start with a 620 FICO minimum, but lenders competing for this price range typically want 740+. Down payments run 5% to 20%, with 20% being the sweet spot where mortgage insurance disappears.
San Diego County's median household income of $102,285 stretches to cover $750K loans comfortably. Debt-to-income limits sit around 43-50%, meaning a household earning $102K can carry roughly $3,600-4,250 in total monthly debt including this mortgage.
Local decision guide
Use this guide to connect conventional loans eligibility, lender expectations, and local market factors before comparing payment options in Solana Beach.
Solana Beach sits in San Diego County where the median household income of $102,285 supports homes in the $900K range. At 5.875%, a $750,000 conventional loan carries a $4,437 monthly payment for principal and interest alone.
The 20% down payment requirement here means $937,500 purchase prices need $187,500 cash upfront. That's the threshold where PMI cancels entirely — no insurance, no rate penalty, just a clean conventional loan.
Conventional loans in Solana Beach start with a 620 FICO minimum, but lenders competing for this price range typically want 740+. Down payments run 5% to 20%, with 20% being the sweet spot where mortgage insurance disappears.
California's conventional market splits between retail banks, credit unions, and mortgage brokers. Retail lenders like Wells Fargo and Bank of America move slower but offer branch support.
Agency loans (Fannie Mae and Freddie Mac) dominate the $750K conforming space because rates stay competitive and guidelines are predictable. Underwriting is tighter than FHA but faster than jumbo.
Conventional pencils hard in Solana Beach at the $750K level with 20% down. You're at 80% LTV, which kills PMI entirely and locks in a clean rate structure. FHA would run lower on rate but saddle you with lifetime mortgage insurance.
The math shifts if you can't hit 20% down. Below that threshold, PMI costs roughly $200-300 monthly on a $750K loan. At that point, FHA's lower rate starts looking attractive — call for today's FHA quote to compare.
Conventional vs. FHA at $750K: conventional runs higher rate but zero mortgage insurance at 20% down. FHA rates run lower but the mortgage insurance never cancels — you're paying it for 30 years.
If you have $187,500 down, conventional wins on total cost. If you're closer to 10% down, FHA's lower rate might offset the lifetime insurance. The break-even depends on how long you hold the home.
Solana Beach's coastal location and proximity to San Diego's job centers make it attractive for buyers planning to stay long-term. A 30-year conventional mortgage anchors that stability — you're locking in a rate for three decades.
The area's school district and beach access support home values. Conventional financing at 80% LTV positions you to build equity faster than lower-down-payment options, which matters in a market where appreciation compounds.
At 5.875% on a $750,000 loan, principal and interest run $4,437 monthly. That's before property taxes, insurance, and HOA fees. The full scenario: 740 FICO, 20% down, 80% LTV, primary residence, 30-day lock, 0.196 discount points ($1,470 upfront).
Yes — 20% down (80% LTV) is the only way to skip PMI on conventional. Below 20%, PMI kicks in and stays until you hit 78% LTV through paydown. At 20% down, there's no PMI and no rate penalty.
Minimum is 620, but lenders competing for $750K loans typically want 740+. At 740, you'll see the best rates. Below 680, expect rate adjustments and tighter underwriting.
Typical timeline is 21-30 days from application to funding. Brokers often close faster than retail banks. Clean credit and full documentation speed things up.
Yes — conventional accepts 5-20% down. But below 20%, PMI applies. At 10% down on $750K, you'd pay roughly $200-300 monthly in mortgage insurance until you reach 78% LTV through paydown.