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 loans. Jumbo financing typically requires 20% down and stronger credit.

Question 2

How much do I need to put down to buy in Santa Clara?

Accepted Answer

Conventional loans require 5-20% down. FHA allows 3.5% down with 580+ FICO. VA loans offer zero-down for eligible veterans. Your savings and credit determine the best path.

Question 3

Is Santa Clara County an FHA high-cost area?

Accepted Answer

Yes. Santa Clara is designated an FHA high-cost area for 2026. FHA loan limits match the conforming limit of $1,249,125.

Question 4

Is Santa Clara County a VA high-cost area?

Accepted Answer

Yes. VA loans in Santa Clara County can go up to $1,249,125 in 2026. Zero-down financing is available for eligible service members and veterans.

Question 5

What credit score do I need to qualify for a mortgage in Santa Clara?

Accepted Answer

Conventional loans typically require 620+ FICO. FHA accepts 580+ FICO. VA loans have no official minimum, but most lenders want 620+. Higher scores get better rates.

Question 6

How does Santa Clara's median income affect my loan approval?

Accepted Answer

Santa Clara County's median household income is $159,674. Lenders use your debt-to-income ratio to qualify you. Strong income relative to the loan amount strengthens your application.

Question 7

What's the difference between FHA and conventional loans in Santa Clara?

Accepted Answer

FHA requires 3.5% down minimum and mortgage insurance for life if down payment is under 10%. Conventional requires 5% down and PMI only until you reach 78% LTV.

Question 8

Do I need 20% down to avoid PMI on a conventional loan?

Accepted Answer

Yes. 20% down (80% LTV) eliminates PMI entirely. Below 20% down, PMI applies until you reach 78% LTV. PMI cancels automatically at that point.

Question 9

Can I get a VA loan with zero down in Santa Clara?

Accepted Answer

Yes. VA loans offer zero-down financing for eligible veterans, active duty, and surviving spouses with a Certificate of Eligibility. A funding fee replaces PMI (2.15% at zero down for first use).

Question 10

How does Santa Clara University's new medical school affect the housing market?

Accepted Answer

Santa Clara University and Sutter Health are launching the Bay Area's first medical school in over 100 years. This brings professional jobs to the region, supporting long-term housing demand.

Question 11

What's the jumbo loan cutoff in Santa Clara County?

Accepted Answer

Any loan above $1,249,125 is jumbo. Jumbo loans typically require 20% down, 700+ FICO, and 6-12 months of reserves. Rates usually run 0.125-0.5% above conforming.

Question 12

How long does it take to close a mortgage in Santa Clara?

Accepted Answer

Most conventional and FHA loans close in 30-45 days. VA loans may take 45-60 days due to Certificate of Eligibility review. Jumbo loans often take 45-60 days.

Question 13

What does it cost to close a mortgage in Santa Clara County?

Accepted Answer

Closing costs typically run 2-5% of the loan amount. Conventional loans allow seller concessions up to 3%. FHA allows up to 6%. VA allows up to 4%.

Question 14

Can I use a gift for my down payment in Santa Clara?

Accepted Answer

Yes. Conventional, FHA, and VA loans all allow gift funds for down payment. The gift must come from a family member. You'll need a gift letter stating it's not a loan.

Question 15

What's the property tax rate in Santa Clara County?

Accepted Answer

Santa Clara County's property tax rate is approximately 0.76% of assessed value. Proposition 13 caps annual increases at 2%. Your actual tax bill depends on assessed value.

Santa Clara mortgage questions answered