Select your Scenario
Dodge monthly mortgage insurance premiums (PMI) completely and secure the standard conventional baseline.
Explore programs requiring as little as 3% down conventional or 3.5% FHA, helping you buy sooner.
Optimize your existing debt service, lower your interest rate, or secure cash-out equity restructure.
Department of Veterans Affairs purchase loans offering 0% down payment and no monthly PMI for military.
Lock in lower interest rates with a 15-year fixed loan term to build massive equity quickly.
Finance non-owner occupied rental acquisitions or multi-unit house hacking with competitive investor pricing.
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Current Local Mortgage Rates
Sorted by lowest conforming purchase rate
Exceeds $806,501 conforming limit
Exceeds local FHA limit of $1,209,750
Requires veteran or military eligibility
Exceeds $806,501 conforming limit
Exceeds $806,501 conforming limit
Exceeds $806,501 conforming limit
| Loan Program | Today's Rate / APR | Points | Est. Payment | Action |
|---|---|---|---|---|
| Conventional 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| FHA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr FixedJumbo | 7.024%APR 7.056% | 0 pts$0 | $11,266/moP&I $11,266 · MI $0 | See details |
| 15-Year Conforming Fixed Doesn't Apply | — | — | — | Ineligible |
| Refinance 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Investment Property Fixed Doesn't Apply | — | — | — | Ineligible |
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Compare all 26 pre-computed scenario benchmarks
Scenario Program | Down Pct | Credit score | Today's Rate | APR | Points | P&I Payment | 3-Yr Metric Cost |
|---|---|---|---|---|---|---|---|
15-Year Conforming Purchase | 20% | 740 credit score | 6.343% | 6.390% | 0 pts ($0) | $14,570/mo | $301,483 |
15-Year Rate/Term Refi | 0% | 740 credit score | 5.845% | 5.891% | 0 pts ($0) | $17,642/mo | $387,558 |
Condo 10% Down | 10% | 720 credit score | 7.395% | 7.563% | 0 pts ($0) | $13,151/mo | $464,056 |
Conventional 10% Down | 10% | 720 credit score | 6.583% | 6.735% | 0 pts ($0) | $12,116/mo | $417,543 |
Conventional 20% Down | 20% | 740 credit score | 7.004% | 7.037% | 0 pts ($0) | $11,243/mo | $349,499 |
Conventional 5% Down | 5% | 700 credit score | 6.051% | 6.973% | 0 pts ($0) | $12,093/mo | $408,636 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.662% | 7.699% | 0 pts ($0) | $14,999/mo | $519,964 |
Conventional High Balance | 10% | 740 credit score | 7.015% | 7.048% | 0 pts ($0) | $12,662/mo | $430,874 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.884% | 6.900% | 0 pts ($0) | $13,467/mo | $487,022 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.466% | 6.497% | 0 pts ($0) | $13,299/mo | $443,830 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $17,424/mo | $415,435 |
FHA 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.908% | 0 pts ($0) | $12,345/mo | $432,187 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $12,793/mo | $447,862 |
FHA Streamline Refi | 0% | 640 credit score | 6.051% | 7.025% | 0 pts ($0) | $12,952/mo | $455,286 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.325% | 7.573% | 0 pts ($0) | $13,786/mo | $503,654 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $13,210/mo | $258,643 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.692% | 0 pts ($0) | $11,209/mo | $357,323 |
Jumbo Conforming | 20% | 760 credit score | 7.024% | 7.056% | 0 pts ($0) | $11,266/mo | $350,518 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $12,278/mo | $376,466 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.393% | 7.372% | 0 pts ($0) | $12,959/mo | $460,675 |
Second Home 10% Down | 10% | 720 credit score | 5.936% | 6.655% | 0 pts ($0) | $11,316/mo | $380,562 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $11,107/mo | $343,390 |
VA 0% Down | 0% | 700 credit score | 6.067% | 6.143% | 0 pts ($0) | $13,025/mo | $430,825 |
VA Cash-Out Refi | 0% | 640 credit score | 6.067% | 6.143% | 0 pts ($0) | $13,025/mo | $430,825 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.067% | 6.143% | 0 pts ($0) | $13,025/mo | $430,825 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $11,619/mo | $367,583 |
Frequently Asked Questions
What are today's mortgage rates in 93923, Carmel-By-The-Sea, CA across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in 93923, Carmel-By-The-Sea, CA is 7.004% (with an estimated monthly payment of $6,621). Active program rates also include FHA 30-year fixed loans at 5.936% and VA 0%-down fixed loans at a benchmark rate. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in 93923, Carmel-By-The-Sea, CA?
Mortgage rates have shown typical daily fluctuations driven by inflation data and bond yields. Over the past 90 days, conventional 30-year fixed rates in 93923, Carmel-By-The-Sea, CA have fluctuated between a low of 6.902% and a high of 7.156%. You can track these daily movements by using the 90-day rate history and trajectory chart featured on this page.
Is an FHA or Conventional loan more cost-effective in 93923, Carmel-By-The-Sea, CA?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $2,111,532 in 93923, Carmel-By-The-Sea, CA, a standard 20%-down Conventional loan requires an upfront cash down payment of $422,306 but keeps your monthly payment lower at $6,621/mo (at 7.004% interest) with no monthly PMI. In comparison, an FHA loan requires only $73,904 (3.5% down) but has an estimated payment of $6,027/mo (at 5.936% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $2,037,628 exceeds the local HUD FHA limit of $1,209,750 for a 1-unit property, meaning entry-level buyers here will likely require conventional financing or a larger down payment to comply with government limits.
What is the maximum conforming loan limit in 93923 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 93923 is $806,501. With a typical local home value of $2,111,532 in Carmel-By-The-Sea, a standard 20%-down mortgage requires a loan size of $1,689,226. Since this exceeds the conforming limit of $806,501, most typical transactions in Carmel-By-The-Sea require a non-conforming Jumbo loan, which demands stricter underwriting guidelines, higher credit scores, and larger asset reserves.
How does the median home value in 93923, Carmel-By-The-Sea, CA impact estimated mortgage payments?
The median home value in 93923, Carmel-By-The-Sea, CA is estimated at $2,111,532. Buying a typical home here with a standard 20% down payment ($422,306) translates to an estimated starting monthly mortgage payment of $6,621 (principal and interest). Compared to the local area median household income of $150,752 ($12,563/mo), this basic housing payment represents approximately 52.7% of gross monthly household income. Because this housing cost exceeds the standard 36% lender DTI guideline, buyers in this high-value area may need larger down payments, lower debt balances, or co-borrower income to qualify.