Question 1

What's the 2026 conforming loan limit in San Mateo County?

Accepted Answer

The conforming limit for 2026 is $1,249,125. Loans above that amount require jumbo financing.

Question 2

Is San Mateo County an FHA high-cost area?

Accepted Answer

Yes. San Mateo is designated an FHA high-cost area for 2026. FHA loan limits match the conforming limit at $1,249,125.

Question 3

Is San Mateo County a VA high-cost area?

Accepted Answer

Yes. San Mateo qualifies as a VA high-cost area in 2026. VA loan limits reach $1,249,125.

Question 4

How much down payment do I need for a conventional loan?

Accepted Answer

Conventional loans require a minimum of 3% down. At 20% down or more, PMI drops off entirely.

Question 5

What credit score do I need to buy in Daly City?

Accepted Answer

Most lenders require 620+ FICO for FHA and 640+ for conventional. Stronger credit opens better rates.

Question 6

How does the Bespoke development affect Daly City's market?

Accepted Answer

The mixed-use Bespoke project at the former Talbot's site signals renewed investment. This supports property values across San Mateo.

Question 7

What's the median household income in San Mateo County?

Accepted Answer

San Mateo County's median household income is $156,000. This income level typically supports purchases with standard down payments.

Question 8

Can I get an FHA loan in San Mateo County?

Accepted Answer

Yes. FHA loans are available with 3.5% down and 580+ FICO. The 2026 FHA limit is $1,249,125.

Question 9

Can I get a VA loan with zero down in Daly City?

Accepted Answer

Yes. VA loans offer zero-down financing for eligible veterans and active-duty service members. The 2026 VA limit is $1,249,125.

Question 10

What's a jumbo loan and when do I need one?

Accepted Answer

A jumbo loan finances amounts above $1,249,125. Jumbo loans typically require 20%+ down and 700+ FICO.

Question 11

How long does it take to close on a home in Daly City?

Accepted Answer

Most conventional closings take 30-45 days from application to funding. FHA and VA loans may take 45-60 days.

Question 12

What are typical closing costs in San Mateo County?

Accepted Answer

Closing costs typically run 2% to 5% of the loan amount. This covers appraisal, title, escrow, and lender fees.

Question 13

Can I buy a home in Daly City with less than 5% down?

Accepted Answer

Yes. FHA loans allow 3.5% down with 580+ FICO. Conventional loans go as low as 3% down.

Question 14

Do property taxes in San Mateo County affect my mortgage payment?

Accepted Answer

Property taxes don't change your mortgage payment itself. They do affect total housing cost based on purchase price.

Question 15

What's the difference between FHA and VA loans in this county?

Accepted Answer

Both FHA and VA loans reach $1,249,125 in San Mateo. VA offers zero down; FHA requires 3.5% minimum.

Daly City mortgage questions answered