Question 1

What is the 2026 conforming loan limit in San Mateo County?

Accepted Answer

The 2026 conforming limit is $1,249,125. Loans above this amount are jumbo loans and typically require 20% down and stronger credit.

Question 2

Do I need 20% down to buy in San Bruno?

Accepted Answer

Yes — conventional loans accept 5% to 10% down. You'll carry PMI until you reach 20% equity. FHA allows 3.5% down with a 580+ credit score.

Question 3

Is San Mateo County an FHA high-cost area?

Accepted Answer

Yes. San Mateo is designated an FHA high-cost area. FHA loan limits match the conforming ceiling of $1,249,125 here.

Question 4

Is San Mateo County a VA high-cost area?

Accepted Answer

Yes. VA loans in San Mateo County can go up to $1,249,125 with zero down for eligible veterans. The funding fee replaces PMI.

Question 5

What credit score do I need to qualify for a mortgage in San Bruno?

Accepted Answer

Conventional loans typically require 620+. FHA accepts 580+ for the 3.5% down program. VA has no hard floor but most lenders prefer 620+.

Question 6

How does the Bespoke development affect San Bruno's market?

Accepted Answer

The Bespoke mixed-use project in downtown San Mateo adds affordable housing and commercial space nearby. This signals continued investment in the Peninsula.

Question 7

What's the income requirement to qualify for a mortgage here?

Accepted Answer

San Mateo County's median household income is $156,000. Lenders use debt-to-income ratios rather than a hard income floor. Most buyers qualify under 43% of gross monthly income.

Question 8

Can I get a jumbo loan in San Bruno?

Accepted Answer

Yes. Jumbo loans above $1,249,125 are available in San Bruno. Expect to put 20% down, have 700+ credit, and show 6-12 months of reserves.

Question 9

What's the difference between FHA and conventional financing in San Bruno?

Accepted Answer

FHA requires 3.5% down and allows lower credit scores. Conventional needs 5% to 10% down but has no mortgage insurance at 20% equity.

Question 10

Do I need to sell my current home before buying in San Bruno?

Accepted Answer

No. If you have equity in your current home, a cash-out refinance or home equity line can fund your down payment. Lenders will factor both properties into your debt ratio.

Question 11

How long does closing take on a San Bruno home purchase?

Accepted Answer

Conventional loans typically close in 30-45 days. FHA and VA can take 45-60 days due to appraisal requirements. Jumbo loans may extend to 60 days.

Question 12

What are typical property taxes in San Bruno?

Accepted Answer

San Mateo County property taxes run about 0.76% of assessed value annually. A $1,000,000 home carries roughly $7,600 per year in property tax.

Question 13

Can I use a VA loan to buy in San Bruno?

Accepted Answer

Yes. VA loans are available up to $1,249,125 with zero down for eligible veterans and active duty. The funding fee rolls into the loan.

San Bruno mortgage questions answered