Question 1

Can I buy a Woodside home with FHA?

Accepted Answer

Only if you find a property under $1,149,825, which is rare. Most Woodside homes require jumbo financing well above FHA limits.

Question 2

What credit score do I need for FHA in San Mateo County?

Accepted Answer

FHA allows 580, but most lenders want 620 minimum. Below that, your options shrink to specialty lenders with higher rates.

Question 3

How much are FHA closing costs in Woodside?

Accepted Answer

Expect 2-5% of purchase price. The 1.75% upfront mortgage insurance adds significantly versus conventional loans.

Question 4

Does FHA work for self-employed borrowers?

Accepted Answer

It works, but conventional or bank statement loans usually offer better terms. FHA's strict income documentation helps W-2 earners more.

Question 5

Can sellers pay my FHA closing costs?

Accepted Answer

Yes, up to 6% of the purchase price. That's higher than conventional's 3% cap and helps stretch your down payment further.

FHA Loans in Woodside: Making High-Priced San Mateo County Accessible