Question 1

Why can't I use an FHA loan in Atherton?

Accepted Answer

FHA caps at $1,149,825 in San Mateo County. Atherton median prices run $5M+, far exceeding that limit.

Question 2

Do conventional loans charge mortgage insurance?

Accepted Answer

Only below 20% down. MI drops automatically at 78% LTV, unlike FHA's lifetime requirement.

Question 3

What credit score do I need for conventional financing?

Accepted Answer

Most lenders require 620 minimum. Scores above 740 unlock the best rates and terms.

Question 4

Can I get a conventional loan with 10% down in Atherton?

Accepted Answer

Yes, through jumbo programs. Expect stricter income and reserve requirements than conforming loans.

Question 5

Which loan type closes faster?

Accepted Answer

Conventional loans average 21-30 days. FHA adds time for extra appraisal reviews and repair requirements.

Conventional vs FHA Loans in Atherton: Which Fits Your $5M+ Home Purchase?