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in Los Altos, CA
Los Altos is one of the most expensive markets in Santa Clara County. Choosing the right loan here isn't academic — it affects your payment by hundreds monthly.
Conventional and VA loans both work in high-cost markets. But they serve very different borrowers. Knowing which fits you saves money from day one.
Conventional loans aren't backed by any government agency. That means lenders set the rules — and qualified borrowers get competitive rates.
You'll need at least a 620 credit score. Put down 20% and you skip private mortgage insurance entirely. That matters on a Los Altos price tag.
Fannie Mae and Freddie Mac conforming limits apply here. High-balance conforming loans cover Santa Clara County's elevated price range.
VA loans are for veterans, active-duty service members, and surviving spouses. If you qualify, this is the most powerful loan in the market.
Zero down payment. No private mortgage insurance. The VA funding fee applies, but it can be rolled into the loan. Rates are typically lower than conventional.
There's no VA loan limit for borrowers with full entitlement. In Los Altos, that's a significant advantage — you're not capped at a conforming threshold.
The biggest split is eligibility. VA is exclusive to qualifying military borrowers. Conventional is open to anyone who meets the credit and income standards.
HousingWire flagged the 30-year fixed hitting 6.57% with applications dropping sharply. VA borrowers typically see rates below that benchmark — a real edge right now. Rates vary by borrower profile and market conditions.
VA has no PMI ever. Conventional borrowers putting down less than 20% pay PMI until they hit 20% equity. On a Los Altos purchase, that monthly cost adds up fast.
If you have VA eligibility, use it. Zero down and no PMI in a market like Los Altos is a structural advantage you won't get anywhere else.
Conventional makes sense if you don't have VA eligibility — or if you're putting down 20%+ and want simpler underwriting with no funding fee.
Some borrowers qualify for both. Run the numbers on total cost, not just rate. The funding fee can offset VA savings if you're putting down significant cash.
Yes. Borrowers with full VA entitlement have no loan limit. You can finance a Los Altos purchase with zero down.
Lenders require a minimum 620 score for most conventional programs. Higher scores get better rates.
VA rates typically run lower than conventional. Rates vary by borrower profile and market conditions.
It's a one-time fee charged by the VA instead of monthly mortgage insurance. It can be rolled into the loan balance.
Only if you put down less than 20%. Hit 20% equity and you can request PMI removal.
Yes, if you have VA eligibility and meet conventional standards. Compare total costs — the better deal depends on your down payment and timeline.