Question 1

What's the 2026 conforming loan limit in Santa Clara County?

Accepted Answer

The 2026 conforming limit is $1,249,125. Loans above that are jumbo with different terms.

Question 2

Do I need 20% down to buy in Monte Sereno?

Accepted Answer

Yes — 20% down eliminates PMI entirely. Conventional loans accept 5% to 10% down with PMI.

Question 3

What credit score do I need to qualify?

Accepted Answer

Conventional lenders typically require 620 or higher. Most competitive offers come with 680+.

Question 4

Is Santa Clara County an FHA high-cost area?

Accepted Answer

Yes. FHA's limit here matches the conforming ceiling at $1,249,125. This opens FHA to more buyers.

Question 5

How does the new medical school affect Monte Sereno's market?

Accepted Answer

Santa Clara University's medical school brings professional jobs to the region. Increased employment typically supports steady home values.

Question 6

What does the county median income tell me about qualifying?

Accepted Answer

Santa Clara County's median household income is $159,674. Lenders use this as a baseline for income-based programs.

Question 7

Can I use a VA loan in Monte Sereno?

Accepted Answer

Yes. VA loans are available up to $1,249,125 in 2026. Zero down and no PMI make VA loans powerful here.

Question 8

What's the difference between FHA and conventional at this price point?

Accepted Answer

FHA requires 3.5% down minimum and mortgage insurance for life. Conventional needs 5% to 20% down with PMI that cancels at 78% LTV.

Question 9

How long does closing typically take in Santa Clara County?

Accepted Answer

Plan for 30 to 45 days from offer to funding. Santa Clara County's busy market can extend timelines.

Question 10

Do I need to sell my current home before buying in Monte Sereno?

Accepted Answer

Not necessarily. Bridge financing and contingent offers exist. Sellers prefer clean sales.

Question 11

What's the difference between a jumbo and a conforming loan?

Accepted Answer

Conforming loans top out at $1,249,125 in 2026. Jumbo loans exceed that and typically require 700+ FICO and 20% down.

Question 12

How does PMI work on a conventional loan?

Accepted Answer

PMI applies when you put down less than 20%. It protects the lender if you default.

Question 13

Can I refinance out of PMI later?

Accepted Answer

Yes. Once your home appreciates or you pay down to 80% LTV, you can refinance to drop PMI.

Monte Sereno mortgage questions answered