Question 1

What is the FHA loan limit for Santa Clara County?

Accepted Answer

Santa Clara County qualifies for high-cost FHA limits. Check current limits with us — they adjust annually and directly affect your purchase power in Milpitas.

Question 2

Can I use FHA to buy a condo in Milpitas?

Accepted Answer

Yes, but the condo project must be FHA-approved or qualify for spot approval. Many newer Milpitas developments haven't gone through FHA approval yet.

Question 3

How much is FHA mortgage insurance in 2026?

Accepted Answer

Upfront MIP is 1.75% of the loan amount. Annual MIP varies by loan size and term — rates vary by borrower profile and market conditions.

Question 4

Does FHA allow gift money for the down payment?

Accepted Answer

Yes. The entire 3.5% down payment can come from a family gift. The donor must provide a gift letter and lenders will verify the transfer.

Question 5

Is FHA or conventional better for Milpitas buyers?

Accepted Answer

Depends on your credit score and down payment. Below 640 credit, FHA usually wins. Above 700 with 5% down, conventional often costs less over time.

Question 6

Can I qualify for FHA with a recent job change?

Accepted Answer

Generally yes, if you're in the same field. FHA cares about two-year employment history — a job change in the same industry rarely kills a deal.

FHA Loans in Milpitas, CA: Low Down Payment, Real Path to Ownership