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Woodlake sits in Tulare County's agricultural heartland where $937,500 homes are realistic purchases for families earning the county's median household income of $69,489.
The conforming limit here is $832,750, so conventional loans work well for homes under that threshold. Most Woodlake buyers put 20% down to skip PMI entirely, which keeps the loan clean and the payment predictable for three decades.
5.875%
Interest Rate
$4,437
Monthly P&I
620
Min. FICO
20% (no PMI)
Down Payment
$750,000
Loan Amount
Conventional Loans in Woodlake
Conventional loans in Woodlake require a 620 FICO floor, though 740+ gets you the best rates. Down payments range from 3% to 25%, but 20% is the magic number—it eliminates PMI and locks in the cleanest pricing.
Tulare County's median household income of $69,489 stretches to cover homes around $280,000 comfortably at standard debt ratios. Buyers targeting $937,500 need household income closer to $180,000 to stay within 43% debt-to-income limits.
Local decision guide
Use this guide to connect conventional loans eligibility, lender expectations, and local market factors before comparing payment options in Woodlake.
Woodlake sits in Tulare County's agricultural heartland where $937,500 homes are realistic purchases for families earning the county's median household income of $69,489.
The conforming limit here is $832,750, so conventional loans work well for homes under that threshold. Most Woodlake buyers put 20% down to skip PMI entirely, which keeps the loan clean and the payment predictable for three decades.
Conventional loans in Woodlake require a 620 FICO floor, though 740+ gets you the best rates. Down payments range from 3% to 25%, but 20% is the magic number—it eliminates PMI and locks in the cleanest pricing.
California's conventional market is split between retail banks and mortgage brokers. Brokers typically close faster and offer more flexibility on overlays. Retail banks move slower but may have lower rates on jumbo balances.
Most lenders require 30-day rate locks on conventional loans. Appraisals take 7–10 days, underwriting 5–7 days. A full close in 30 days is standard if you're organized with documents upfront.
Conventional 30-year fixed makes sense in Woodlake when you have 20% down and a 740+ FICO. At that profile, you skip PMI entirely and lock a 5.875% rate with no insurance drag. The math is clean.
It doesn't work if you're putting 5–15% down. PMI on a $750,000 loan at 15% down runs $200–250 monthly. FHA might offer a lower rate, but the mortgage insurance never cancels. Run both numbers before deciding.
FHA loans in Woodlake run a lower rate but carry lifetime mortgage insurance if you put down less than 10%. On a $750,000 purchase, that insurance costs $200–300 monthly forever—or until you refinance.
Conventional at 20% down has no insurance and no refinance trap. You pay 0.195 discount points upfront ($1,462) to lock 5.875%, but that's a one-time cost. FHA's lifetime insurance is a monthly bleed.
Woodlake's location in Tulare County means access to agricultural land and rural character. Homes here hold value because the county's economy is stable and diverse beyond just farming.
Schools and infrastructure matter for resale. Woodlake Unified School District serves the area, and county-level investment in roads and utilities supports long-term property appreciation.
At 5.875% on a $750,000 loan, principal and interest run $4,437 monthly. Add property taxes, insurance, and HOA if applicable. The full payment depends on your home's assessed value and location within Tulare County.
Yes. 20% down (80% LTV) is the only way to skip PMI on a conventional loan. Below 20%, PMI applies and doesn't cancel until you hit 78% LTV through principal paydown or refinancing.
The minimum is 620 FICO, but 740+ gets you the best rates and terms. At 740+, you qualify for the 5.875% rate shown here. Between 620–739, expect a rate bump of 0.25–0.75%.
At standard 43% debt-to-income limits, you need roughly $180,000 household income to carry a $750,000 loan plus taxes and insurance. Tulare County's median is $69,489, so this purchase requires above-average household earnings.
Conventional at 20% down has no mortgage insurance. FHA runs lower rates but charges insurance for life if you put down under 10%. On a $750K purchase, FHA insurance costs $200–300 monthly forever.