Question 1

Can I use FHA for a $3 million Atherton home?

Accepted Answer

No. FHA caps at $1,149,825 in San Mateo County. You need jumbo financing for properties above that threshold.

Question 2

What credit score do I need for FHA in Atherton?

Accepted Answer

580 minimum for 3.5% down. Some lenders set overlays at 620-640 in high-cost markets.

Question 3

How does FHA mortgage insurance compare to conventional?

Accepted Answer

FHA charges 0.55%-0.80% annually plus 1.75% upfront. Conventional drops PMI once you hit 20% equity and costs less above 720 credit.

Question 4

Do Atherton sellers accept FHA offers?

Accepted Answer

Rarely. Cash offers dominate this market. FHA's stricter appraisal standards make sellers nervous about deals falling through.

Question 5

What properties qualify for FHA in Atherton?

Accepted Answer

Condos, townhomes, or single-family homes under $1.15 million. The property must meet FHA safety and structural standards during appraisal.

FHA Loans in Atherton: When Government Backing Meets Silicon Valley Luxury