Question 1

Do community mortgages work in Woodside?

Accepted Answer

Rarely. Woodside's high incomes and property values push it outside most community lending eligibility zones. Adjacent cities offer better program access.

Question 2

What's the minimum down payment for community mortgages?

Accepted Answer

Most community programs accept 3% down. Conventional 97% LTV loans offer the same down payment without geographic restrictions.

Question 3

Can I use community mortgages for large Woodside estates?

Accepted Answer

Unlikely. Many community programs cap acreage, and Woodside's multi-acre properties exceed those limits. Jumbo loans fit these properties better.

Question 4

What credit score do community mortgages require?

Accepted Answer

Most programs need 620 minimum. FHA accepts 580 with higher down payments and works in more locations than community loans.

Question 5

Are community mortgages cheaper than conventional loans?

Accepted Answer

Rates vary by borrower profile and market conditions. Community mortgages offer competitive pricing for qualifying buyers but conventional loans often match their terms.

Community Mortgages in Woodside: Flexible Paths to San Mateo County Homeownership