Question 1

Is Los Gatos eligible for USDA loans?

Accepted Answer

Most of Los Gatos is not USDA-eligible. Some unincorporated or fringe addresses may qualify — check the official USDA map by address.

Question 2

What income limit applies in Santa Clara County?

Accepted Answer

USDA sets income limits by county and household size. Santa Clara County limits are low relative to local salaries — many buyers exceed them.

Question 3

How long does a USDA loan take to close?

Accepted Answer

USDA loans require a second level of government approval. Expect closing timelines 30 to 45 days longer than a standard conventional loan.

Question 4

Can I use a USDA loan for a condo in Los Gatos?

Accepted Answer

USDA rarely approves condos. The property type and location both must meet USDA standards — single-family homes in eligible areas are the norm.

Question 5

What's the minimum credit score for a USDA loan?

Accepted Answer

Most USDA lenders want a 640 score or higher. Some lenders may go lower with manual underwriting, but those programs are harder to find.

Question 6

Is there mortgage insurance on a USDA loan?

Accepted Answer

Yes. USDA charges an upfront guarantee fee and an annual fee. Both are lower than FHA mortgage insurance premiums for most borrowers.

USDA Loans in Los Gatos: What You Need to Know