Question 1

What's the monthly payment on a $750,000 conventional loan in Rio Vista?

Accepted Answer

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: 80% LTV, 20% down, 740 FICO, 30-year fixed, priced April 8, 2026.

Question 2

Do I need 20% down to avoid PMI on a conventional loan?

Accepted Answer

Yes — 20% down (80% LTV) is the only way to skip PMI on a conventional loan. Below 20%, PMI applies until you hit 78% LTV through automatic cancellation. At 78%, you can request cancellation anytime.

Question 3

Can I put down less than 20% and still get a conventional loan?

Accepted Answer

Yes. Conventional loans accept 3% down, but PMI applies. You'll pay mortgage insurance monthly until you reach 78% LTV. The insurance cost varies by loan amount and FICO score — call for a quote.

Question 4

What credit score do I need for a conventional loan in Rio Vista?

Accepted Answer

Most lenders require 740 FICO or higher for the best rates and terms. Some lenders go as low as 620 FICO, but rates climb steeply below 700. Expect rate penalties of 0.5-1.5% if your score is under 700.

Question 5

How long does it take to close a conventional loan here?

Accepted Answer

Standard timeline is 45-60 days from application to funding. A 30-day rate lock is typical. If you need to close faster, some brokers offer 21-day locks, but rates may be slightly higher.

Conventional 30-Year Fixed Mortgages in Rio Vista, CA