Question 1

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

Accepted Answer

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.

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 and doesn't cancel until you hit 78% LTV through principal paydown or refinancing.

Question 3

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

Accepted Answer

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%.

Question 4

How much income do I need to buy a $937,500 home in Woodlake?

Accepted Answer

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.

Question 5

What's the difference between conventional and FHA in Woodlake?

Accepted Answer

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.

Conventional 30-Year Fixed Mortgages in Woodlake, CA