Question 1

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

Accepted Answer

The 2026 conforming limit is $1,249,125. Loans above this amount are considered jumbo and typically require larger down payments and higher credit scores.

Question 2

Is San Mateo County an FHA high-cost area?

Accepted Answer

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

Question 3

Is San Mateo County a VA high-cost area?

Accepted Answer

Yes. San Mateo qualifies as a VA high-cost area. VA loan limits reach $1,249,125 in 2026, allowing eligible veterans to borrow up to that amount with zero down.

Question 4

How much do I need to put down on a conventional loan in Woodside?

Accepted Answer

Conventional loans require a minimum of 3% down. At 20% down or more, you avoid PMI entirely. Between 3% and 20%, PMI applies until you reach 78% LTV.

Question 5

What credit score do I need for a conventional loan?

Accepted Answer

Most lenders require 620 FICO minimum for conventional loans. Stronger credit (740+) typically qualifies for better rates and terms. Woodside's price range often attracts borrowers with scores above 700.

Question 6

Can I get an FHA loan in Woodside?

Accepted Answer

Yes. FHA loans are available in San Mateo County with a 3.5% minimum down payment and 580+ FICO. The 2026 FHA limit is $1,249,125, matching the conforming cap.

Question 7

How long does the FHA mortgage insurance last?

Accepted Answer

FHA 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 of payments.

Question 8

Can a veteran buy in Woodside with zero down?

Accepted Answer

Yes. VA loans allow eligible veterans, active duty, and surviving spouses to buy with zero down payment. The 2026 VA limit in San Mateo is $1,249,125.

Question 9

What is the VA funding fee?

Accepted Answer

The VA funding fee replaces PMI. For first-time use at zero down, it's 2.15% of the loan amount. Subsequent VA loans cost 3.3%. Veterans with a 10%+ disability rating are exempt.

Question 10

Do I need to be a first-time buyer to qualify for an FHA loan?

Accepted Answer

No. FHA loans are available to repeat buyers as well. The main requirements are 3.5% down, 580+ FICO, and a debt-to-income ratio typically under 50%.

Question 11

How does the Talbot's redevelopment affect Woodside's market?

Accepted Answer

The Bespoke mixed-use project adds commercial space and affordable housing to downtown San Mateo. This development may influence neighborhood activity and long-term property values in the broader area.

Question 12

What is the median household income in San Mateo County?

Accepted Answer

San Mateo County's median household income is $156,000. This figure helps determine qualification for income-based programs like USDA loans in eligible rural areas.

Question 13

Can I get a jumbo loan above $1,249,125 in Woodside?

Accepted Answer

Yes. Jumbo loans exceed the $1,249,125 conforming limit. They typically require 20% down, 700+ FICO, and six months of reserves. Rates usually run 0.125% to 0.5% above conforming.

Question 14

How long does it take to close a mortgage in California?

Accepted Answer

Most conventional loans close in 30 to 45 days. FHA and VA loans may take 45 to 60 days due to additional underwriting. Appraisal delays can extend timelines.

Question 15

What closing costs should I expect in Woodside?

Accepted Answer

Closing costs typically range from 2% to 5% of the loan amount. They include appraisal, title, escrow, and lender fees. Ask your lender for a detailed estimate early in the process.

Woodside home loan questions answered