Question 1

What is the conforming loan limit in Santa Clara County?

Accepted Answer

Santa Clara County qualifies as a high-cost area. The limit exceeds the national baseline — check current FHFA limits before assuming you need jumbo.

Question 2

Can I use a conforming loan to buy a condo in Milpitas?

Accepted Answer

Yes, but the condo project must be Fannie Mae or Freddie Mac approved. We can verify approval status before you make an offer.

Question 3

What credit score do I need for a conforming loan?

Accepted Answer

Lenders require a 620 minimum. Scores of 740+ get the best rates — even a 20-point difference can shift your pricing noticeably.

Question 4

Do conforming loans require PMI?

Accepted Answer

PMI is required when you put less than 20% down. Unlike FHA, you can cancel PMI once your equity reaches 20%.

Question 5

How does a conforming loan differ from a conventional loan?

Accepted Answer

All conforming loans are conventional, but not all conventional loans are conforming. Jumbo loans are conventional but exceed the conforming limit.

Question 6

Is a conforming loan better than jumbo for Milpitas buyers?

Accepted Answer

If your purchase fits within the county limit, yes. Conforming loans carry lower rates and easier approval requirements than jumbo products.

Conforming Loans in Milpitas, CA — Rates, Limits & How to Qualify