Question 1

What are the FHA loan limits in Santa Clara County?

Accepted Answer

FHA sets county-level limits that cap your borrowing. In Santa Clara County, those limits are well below typical Los Altos purchase prices.

Question 2

Can I cancel FHA mortgage insurance later?

Accepted Answer

If you put down less than 10%, FHA MIP stays for the life of the loan. Refinancing into a conventional loan is the main way out.

Question 3

What credit score do I need for a conventional loan?

Accepted Answer

Most conventional lenders require a 620 minimum. You need 740 or higher to access the best pricing on rates and fees.

Question 4

Which loan has a lower down payment requirement?

Accepted Answer

Both go as low as 3–3.5% down. FHA accepts lower credit scores at that down payment level than conventional does.

Question 5

Is a conventional loan harder to qualify for?

Accepted Answer

Generally yes — conventional has stricter credit and income requirements. But for strong borrowers, the lower long-term cost is worth it.

Question 6

Can I use FHA for a high-priced Los Altos home?

Accepted Answer

Likely not for most properties. FHA county limits will fall short of typical purchase prices in Los Altos. Conventional or jumbo is usually required.

Conventional vs FHA Loans in Los Altos, CA