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Paso Robles is seeing real investment in regional connectivity. The SLO Land Conservancy just secured 750 acres for the Morro Bay-to-Cayucos connector trail — infrastructure that signals long-term growth in the county.
San Luis Obispo County's median household income of $93,398 stretches to cover homes in the mid-$700K range comfortably with FHA. That's the power of lower down payments and credit floors — you don't need perfect credit to buy here.
5.375%
Interest Rate
$4,200
Monthly Payment (P&I)
580
Minimum FICO
3.5%
Minimum Down Payment
$750,000
Loan Amount
30 days
Rate Lock Period
FHA Loans in Paso Robles
FHA requires a 580 FICO minimum and 3.5% down on a primary residence. At $777K, that's roughly $27K down and a $750K loan. You'll pay 1.75% upfront mortgage insurance ($13,125) rolled into the loan amount, plus annual MIP that never cancels unless you...
San Luis Obispo County's median household income of $93,398 supports a $750K purchase with FHA because the program allows higher debt-to-income ratios than conventional. Most lenders cap DTI at 50-57% on FHA; conventional tops out around 43-45%.
Local decision guide
Use this guide to connect fha loans eligibility, lender expectations, and local market factors before comparing payment options in Paso Robles.
Paso Robles is seeing real investment in regional connectivity. The SLO Land Conservancy just secured 750 acres for the Morro Bay-to-Cayucos connector trail — infrastructure that signals long-term growth in the county.
San Luis Obispo County's median household income of $93,398 stretches to cover homes in the mid-$700K range comfortably with FHA. That's the power of lower down payments and credit floors — you don't need perfect credit to buy here.
FHA requires a 580 FICO minimum and 3.5% down on a primary residence. At $777K, that's roughly $27K down and a $750K loan. You'll pay 1.75% upfront mortgage insurance ($13,125) rolled into the loan amount, plus annual MIP that never cancels unless you...
California FHA lending is dominated by mortgage banks and brokers. Retail banks rarely compete on FHA rates because the margin is thin and compliance overhead is high.
Underwriting timelines run 30-45 days for FHA in California. Appraisals take longer because FHA requires property condition inspections that conventional skips. Expect to close in 45-60 days if you're organized with docs.
FHA makes sense in Paso Robles when you have solid income but limited savings. At $93K county median income, a $750K purchase with 3.5% down and 740 FICO is realistic. Conventional would demand 10-20% down and a higher rate — FHA wins on cash flow.
FHA doesn't pencil if you're planning to refinance in five years. The lifetime mortgage insurance above 90% LTV means you're locked into that cost. If you can save for 10% down, conventional PMI cancels after 11 years — that's the real breakeven.
Conventional loans at this price run higher rates and require 10-20% down. FHA's 3.5% down and lower credit floor win on upfront cash. But conventional has no mortgage insurance at 20% down — FHA's insurance runs forever unless you refinance.
The real choice: pay $27K down now with FHA and carry insurance, or save $75K for 10% conventional down and cancel PMI after 11 years. In Paso Robles at $93K median income, most buyers choose FHA's lower entry cost.
The SLO County Board of Supervisors just approved a 2026 Legislative Platform prioritizing housing, transportation, and water infrastructure. That means county-level investment in the roads and utilities that support home values.
A proposed half-cent transportation sales tax on the November 2026 ballot would fund road and transit improvements across the county.
At 5.375% with 0.385 points ($2,888 upfront), the principal and interest payment is $4,200 monthly. Add property taxes, insurance, and mortgage insurance — total housing cost runs $5,200-5,400 depending on the home.
No. FHA mortgage insurance (MIP) runs for the life of the loan if you put down less than 10%. With 10% down, MIP cancels after 11 years. There's no way to avoid MIP on FHA — it's built into the program.
Yes. FHA's minimum is 580 FICO with a valid Certificate of Eligibility or credit report. Most lenders will approve 650+ FICO with standard documentation. Below 620, you'll need compensating factors like reserves or lower debt-to-income.
3.5% minimum on a $777K purchase is $27,202. You'll also pay 1.75% upfront mortgage insurance ($13,125), which gets rolled into the loan. Total cash needed at closing is down payment plus closing costs — roughly $35-40K.
No. Conventional at 10% down has PMI that cancels after 11 years. FHA's mortgage insurance never cancels above 90% LTV. Over 30 years, conventional becomes cheaper because the insurance goes away — do the math for your timeline.