Question 1

What credit score do I need for a conventional loan in San Jose?

Accepted Answer

Minimum is 620, but 740+ gets you the best rates. In San Jose's price range, that rate difference adds up fast.

Question 2

Can I avoid PMI on a conventional loan?

Accepted Answer

Yes. Put 20% down and there's no PMI. You can also reach 20% equity later and request cancellation.

Question 3

How does conventional compare to FHA in Santa Clara County?

Accepted Answer

Conventional has stricter credit requirements but no lifelong mortgage insurance. For qualified buyers, it's usually cheaper long-term.

Question 4

Do conventional loans work for condos in San Jose?

Accepted Answer

Yes, but the condo project needs lender approval. HOA financials and owner-occupancy ratios both get reviewed.

Question 5

Can I use RSU or bonus income to qualify in San Jose?

Accepted Answer

Yes, with the right lender. Documentation and a two-year history are typically required. Lender treatment varies.

Question 6

What is the conforming loan limit in Santa Clara County?

Accepted Answer

Santa Clara County qualifies for a higher conforming limit than the national baseline. Ask SRK CAPITAL for the current figure — it adjusts annually.

Conventional Loans in San Jose, CA