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FHA Loans in Hillsborough
What's the monthly payment on a $750,000 FHA loan at today's rate?
Principal and interest run $4,437 monthly at 5.875% on a $750,000 loan. Add property taxes, insurance, and MIP—typically $1,200–$1,500 more—for your total housing payment.
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San Mateo's Bespoke mixed-use development at the former Talbot's downtown site signals renewed investment in the region. FHA buyers in Hillsborough are seeing 5.875% rates on purchases around $750,000 with just 3.5% down.
At that rate and loan amount, your principal and interest run $4,437 monthly. San Mateo County's median household income of $156,000 supports this price range comfortably for qualified borrowers.
5.875%
Interest Rate
$4,437
Monthly Payment (P&I)
3.5%
Minimum Down Payment
580
Minimum FICO
$1,249,125
2026 FHA Limit
15–20 days
Underwriting Timeline
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FHA requires a 580 FICO minimum, though 740+ gets better rates and terms. Down payments start at 3.5% for credit scores 580–619 and drop to 3.5% for 620+.
Mortgage insurance (MIP) runs for the life of the loan if you put down less than 10%. With 10% or more down, MIP cancels after 11 years. San Mateo County's $156,000 median household income supports a $750,000 purchase here.
Local decision guide
Use this guide to connect fha loans eligibility, lender expectations, and local market factors before comparing payment options in Hillsborough.
San Mateo's Bespoke mixed-use development at the former Talbot's downtown site signals renewed investment in the region. FHA buyers in Hillsborough are seeing 5.875% rates on purchases around $750,000 with just 3.5% down.
At that rate and loan amount, your principal and interest run $4,437 monthly. San Mateo County's median household income of $156,000 supports this price range comfortably for qualified borrowers.
FHA requires a 580 FICO minimum, though 740+ gets better rates and terms. Down payments start at 3.5% for credit scores 580–619 and drop to 3.5% for 620+.
Rate check
Tell us the price range, down payment and credit range you are working with. We compare every lender we work with and show you the options side by side.
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FHA loans in California move through both retail banks and mortgage brokers, with brokers often offering faster underwriting and more flexible overlays. Lenders typically require 30-day rate locks and solid documentation of income and assets.
Appraisals take 7–10 days, and conditional approval usually arrives within 5 business days. FHA's streamlined process and government backing make these loans popular for first-time buyers and those with limited savings.
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FHA makes sense in Hillsborough when you have solid income but limited cash for a down payment. At $156,000 county median income, a $750,000 purchase with 3.5% down is realistic and keeps your savings intact.
Above $1,249,125—the 2026 FHA limit—you'd need conventional or jumbo financing. Below that, FHA's low down payment and 5.875% rate beat waiting years to save 20%.
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Conventional loans typically require 5% down minimum and carry PMI until you hit 20% equity. FHA's 3.5% down and lifetime MIP above 90% LTV trade a slightly lower conventional rate for faster entry into the market.
If you have $27,000 saved for a $777,000 purchase, FHA gets you in now. Conventional would demand $38,850 down, delaying your move by months or years.
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San Mateo County school districts placed bond measures on the June ballot to boost funding. For families buying in Hillsborough, that signals ongoing investment in education and community infrastructure.
The Bespoke development downtown brings new commercial space and affordable housing to San Mateo. That kind of mixed-use growth supports long-term property values and walkability in the broader area.
FAQ
Principal and interest run $4,437 monthly at 5.875% on a $750,000 loan. Add property taxes, insurance, and MIP—typically $1,200–$1,500 more—for your total housing payment.
No. FHA requires only 3.5% down. Mortgage insurance (MIP) runs for the life of the loan if you put down less than 10%. With 10%+ down, MIP cancels after 11 years.
Yes. FHA accepts 580 FICO and above. A 650 score qualifies easily. Rates improve at 740+, but 650 is well within FHA's range and gets approved regularly.
The 2026 FHA limit in San Mateo County is $1,249,125. Above that, you'd need conventional or jumbo financing. Most Hillsborough purchases fall well below this cap.
Conditional approval typically arrives in 5 business days. Appraisals take 7–10 days. Total time to clear to close is usually 15–20 days with solid documentation.
Programs for first-time buyers that allow lower down payments and more forgiving credit and income rules.
Explore refinancing options to lower your rate, tap equity, or switch loan terms.
SRK CAPITAL in San Mateo County
Our team of licensed mortgage brokers works San Mateo County every week. Tell us where you are in the process and we will map out the loan, the timeline and the money you need at closing, with no obligation.
What working with us looks like
Licensed mortgage brokers
You talk with a broker, not a call center, from the first question to closing day.
17-21 day typical close
Most purchase loans close in 17-21 days once your paperwork is in.
Every county in California
We work across the state, including San Mateo County, so local limits and rules are already familiar.
Financing solutions for rental properties, fix-and-flip projects, and real estate portfolios.
Mortgage programs with alternative income documentation for business owners and freelancers.
Federally insured or guaranteed programs (FHA, VA, USDA) that let lenders accept lower credit scores and smaller down payments.
Traditional mortgage options meeting standard lending guidelines with various term structures.
Alternative lending programs for borrowers who need flexible documentation or unique loan structures.
Side-by-side comparisons to help you choose the right mortgage program.
This page is for educational purposes only and does not constitute financial, legal, or tax advice. Mortgage rates, terms, and program availability can change and vary by borrower and property. Consult a licensed mortgage professional for guidance on your scenario.