Loading
San Jose sits in one of the most expensive housing markets in the country. Conventional loans are often the only realistic path for buyers with strong credit and solid income.
Santa Clara County home prices routinely push borrowers past FHA loan limits. That makes conventional financing — both conforming and jumbo — the dominant choice here.
620
Min Credit Score
3%
Min Down Payment
20% Down
PMI-Free Threshold
200+
Wholesale Lenders
Credit & LTV
Rate Varies By
Conventional Loans in San Jose
Most conventional loans require a 620 minimum credit score. But in San Jose's competitive market, you want 740+ to access the best pricing tiers.
Down payment starts at 3% for first-time buyers. Put down 20% and you eliminate private mortgage insurance — PMI adds cost monthly if you don't.
SRK CAPITAL shops conventional rates across 200+ wholesale lenders. Retail banks quote one rate. We compare dozens before you sign anything.
Not every lender prices San Jose's market the same way. Jumbo overlays, DTI caps, and reserve requirements vary — sometimes significantly — between lenders.
Debt-to-income ratio — the share of your gross monthly income going to debt payments — is where San Jose deals fall apart most often. High housing costs push DTI fast.
Tech employees with RSUs or bonus income need careful documentation. Lenders treat variable comp differently. We know which lenders count it most favorably.
FHA loans have lower credit thresholds but carry mortgage insurance for the loan's life in many cases. Conventional PMI drops off once you hit 20% equity.
ARMs can cut your starting rate versus a 30-year fixed. For buyers planning to sell or refinance within 7 years, that tradeoff often makes sense in San Jose.
Santa Clara County's conforming loan limit is higher than the national baseline. Buyers financing at or below that limit access the widest lender pool and best terms.
Multiple-offer situations are common in San Jose. Conventional financing signals strength to sellers — it's perceived as cleaner than FHA offers in competitive bids.
Minimum is 620, but 740+ gets you the best rates. In San Jose's price range, that rate difference adds up fast.
Yes. Put 20% down and there's no PMI. You can also reach 20% equity later and request cancellation.
Conventional has stricter credit requirements but no lifelong mortgage insurance. For qualified buyers, it's usually cheaper long-term.
Yes, but the condo project needs lender approval. HOA financials and owner-occupancy ratios both get reviewed.
Yes, with the right lender. Documentation and a two-year history are typically required. Lender treatment varies.
Santa Clara County qualifies for a higher conforming limit than the national baseline. Ask SRK CAPITAL for the current figure — it adjusts annually.