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Los Gatos sits in one of the most expensive ZIP codes in Santa Clara County. Conventional loans are the primary tool here — government-backed programs rarely fit the price points.
HousingWire flagged a 10.4% drop in mortgage applications as the 30-year fixed hit 6.57%. For conventional borrowers in Los Gatos, that rate environment means qualification standards matter more than ever.
~6.57%
30-Yr Fixed (as of Apr 2026)
620
Min Credit Score
3%
Min Down Payment
20% down
PMI-Free Threshold
21-30 days
Typical Close Time
Conventional Loans in Los Gatos
Most conventional lenders want a 620 minimum credit score. In Los Gatos, borrowers typically come in well above that — 740+ gets you the best pricing tiers.
Down payment starts at 3% for some programs. Put down 20% and you skip private mortgage insurance (PMI) entirely — that matters on a high-value purchase.
Local decision guide
Use this guide to connect conventional loans eligibility, lender expectations, and local market factors before comparing payment options in Los Gatos.
Los Gatos sits in one of the most expensive ZIP codes in Santa Clara County. Conventional loans are the primary tool here — government-backed programs rarely fit the price points.
HousingWire flagged a 10.4% drop in mortgage applications as the 30-year fixed hit 6.57%. For conventional borrowers in Los Gatos, that rate environment means qualification standards matter more than ever.
Most conventional lenders want a 620 minimum credit score. In Los Gatos, borrowers typically come in well above that — 740+ gets you the best pricing tiers.
We work with 200+ wholesale lenders, and pricing on conventional loans varies more than most borrowers expect. Two lenders, same rate — different fees. You need someone shopping both.
Los Gatos deals often sit right at the conforming loan limit boundary. Crossing into jumbo territory changes your lender pool and your rate. We know which side of that line you want to be on.
Sellers in Los Gatos favor clean offers. A conventional loan signals stronger buyer profile than FHA — no property condition overlays, no FHA appraisal requirements.
If your loan amount clears the conforming limit, don't assume jumbo is automatically the answer. High-balance conventional loans exist for a reason — they often price better.
FHA loans cap out at lower limits and require mortgage insurance regardless of down payment. For Los Gatos prices, FHA rarely pencils out.
ARMs are worth a look if you plan to sell or refinance within 5-7 years. HousingWire noted ARM demand shifting as fixed rates climbed — that's a real conversation to have right now.
Santa Clara County loan limits for high-balance conventional loans run higher than most California counties. That buffer keeps more deals in conventional territory.
Los Gatos homes move fast and often over asking. Your financing has to be bulletproof before you write an offer — preapproval is not optional here.
Lenders require a minimum 620 score, but 740+ gets the sharpest rates. Most Los Gatos buyers come in well above the floor.
Once you clear the high-balance conforming limit, you move into jumbo territory. We'll show you which option prices better for your loan amount.
Put 20% down and PMI is off the table entirely. Some lenders offer lender-paid PMI structures that trade a slightly higher rate instead.
For most buyers here, yes. FHA has lower limits and requires mortgage insurance for the life of the loan in many cases.
High-balance conventional loans go above the standard conforming limit, up to the county cap. Santa Clara County's cap is one of the highest in California.
A well-prepped conventional file can close in 21-30 days. Having documents ready before you write an offer is how you stay competitive.