Question 1

What loan types are available for Sunnyvale homebuyers?

Accepted Answer

We offer 25+ programs here — FHA, VA, Conventional, Jumbo, Bank Statement, DSCR, and more. The right one depends on your income type, down payment, and whether you're buying to live in or invest.

Question 2

How long does the mortgage process take in Sunnyvale?

Accepted Answer

Most purchases close in 21 to 30 days with a clean file. Complex loans like bank statement or jumbo can take 30 to 45 days.

Question 3

What documents do I need to apply for a mortgage?

Accepted Answer

Bring two years of tax returns, two months of bank statements, recent pay stubs, and a government ID. Self-employed borrowers have different doc requirements depending on the loan type.

Question 4

What is the conforming loan limit in Santa Clara County?

Accepted Answer

Santa Clara County qualifies for high-cost conforming limits, which are significantly above the national baseline. As of April 2026, confirm the exact limit with us — it affects whether you need a jumbo loan.

Question 5

What is a jumbo loan and when do I need one in Sunnyvale?

Accepted Answer

A jumbo loan exceeds the conforming loan limit set by Fannie Mae and Freddie Mac. Given Sunnyvale's price range, many buyers here end up in jumbo territory.

Question 6

What credit score do I need to buy a home in Sunnyvale?

Accepted Answer

FHA loans allow scores as low as 580. Conventional loans typically require 620. Jumbo lenders usually want 700 or higher.

Question 7

How much do I need for a down payment in Sunnyvale?

Accepted Answer

FHA requires 3.5% down. Conventional starts at 3% for some programs. Jumbo loans often require 10% to 20% depending on the lender.

Question 8

Can tech employees with RSUs or stock income qualify for a mortgage?

Accepted Answer

Yes, but lenders have specific rules on how they count RSU income. Most require a two-year history of vesting and continued employment at the same company.

Question 9

Do self-employed borrowers have mortgage options in Sunnyvale?

Accepted Answer

Absolutely. Bank statement loans use 12 or 24 months of deposits instead of tax returns. Profit and loss statement loans and 1099 loans are also solid options for self-employed buyers.

Question 10

What is a bank statement loan?

Accepted Answer

It's a loan where your income is calculated from bank deposits — not tax returns. You typically need 12 months of personal or 24 months of business bank statements.

Question 11

What is a DSCR loan and who uses it in Sunnyvale?

Accepted Answer

DSCR stands for Debt Service Coverage Ratio. It's designed for real estate investors — approval is based on the property's rental income, not your personal income.

Question 12

Are there mortgage options for foreign nationals buying in Sunnyvale?

Accepted Answer

Yes. Foreign national loans don't require a U.S. credit history or Social Security number. These are common for overseas tech workers buying Bay Area property.

Question 13

Can I get a mortgage with an ITIN instead of a Social Security number?

Accepted Answer

Yes. ITIN loans are available for borrowers without a Social Security number. Requirements vary by lender, but we have access to several who specialize in these.

Question 14

What is the difference between FHA and Conventional loans?

Accepted Answer

FHA is more flexible on credit and down payment but requires mortgage insurance for the life of the loan. Conventional has stricter credit minimums but lets you drop PMI once you hit 20% equity.

Question 15

What is PMI and when do I have to pay it?

Accepted Answer

PMI stands for private mortgage insurance. Lenders require it on conventional loans when your down payment is less than 20%.

Question 16

Are VA loans available in Sunnyvale?

Accepted Answer

Yes. VA loans require no down payment and no PMI for eligible veterans and active-duty service members. VA loans also tend to have competitive rates compared to conventional options.

Question 17

What is an adjustable-rate mortgage (ARM)?

Accepted Answer

An ARM starts with a fixed rate for a set period — say 5 or 7 years — then adjusts annually. In Sunnyvale's high-price market, some buyers use ARMs to lower their initial payment.

Question 18

What are closing costs in Sunnyvale?

Accepted Answer

Expect 2% to 5% of the loan amount in closing costs. That covers lender fees, title insurance, escrow, prepaid taxes, and homeowners insurance.

Question 19

Can closing costs be rolled into the loan?

Accepted Answer

Not on most purchase loans. But you can negotiate seller concessions to cover some costs, or choose a slightly higher rate in exchange for lender credits.

Question 20

What is a rate buydown and does it make sense in Sunnyvale?

Accepted Answer

A buydown means paying points upfront to lower your interest rate. It makes sense if you plan to stay in the home long enough to recoup the upfront cost.

Question 21

What is a mortgage point?

Accepted Answer

One point equals 1% of the loan amount paid at closing. Buying points lowers your rate — but do the math on how long it takes to break even.

Question 22

What is an interest-only loan?

Accepted Answer

You pay only interest for a set period — typically 5 to 10 years. Monthly payments are lower, but you're not building equity during that time.

Question 23

What is a bridge loan and when should I use one?

Accepted Answer

A bridge loan is short-term financing that lets you buy a new home before selling your current one. It's useful in competitive markets where you can't afford to wait.

Question 24

What is a HELOC and how does it work?

Accepted Answer

HELOC stands for Home Equity Line of Credit. It lets you borrow against your home's equity as needed — it works like a credit card with your house as collateral.

Question 25

What is a home equity loan?

Accepted Answer

A home equity loan gives you a lump sum against your equity at a fixed rate. Unlike a HELOC, the payment is the same every month.

Question 26

Can I use a construction loan to build in Sunnyvale?

Accepted Answer

Yes. Construction loans fund the build in phases, and then convert to a permanent mortgage when construction is done. Lot availability in Sunnyvale is limited, but it's possible.

Question 27

What is an asset depletion loan?

Accepted Answer

Lenders divide your liquid assets over a set number of months to calculate qualifying income. It's built for retirees or high-net-worth buyers with large portfolios but little earned income.

Question 28

What is a portfolio ARM?

Accepted Answer

It's an adjustable-rate loan held by the lender rather than sold to Fannie or Freddie. That means more flexible guidelines — useful for complex borrower profiles.

Question 29

What is a reverse mortgage and who qualifies?

Accepted Answer

Reverse mortgages are for homeowners 62 and older. You borrow against your equity and don't make monthly payments — the loan is repaid when you sell or leave the home.

Question 30

Are USDA loans available in Sunnyvale?

Accepted Answer

No. USDA loans are restricted to rural and semi-rural areas. Sunnyvale does not qualify as an eligible USDA zone.

Question 31

How does SRK CAPITAL find me a better rate?

Accepted Answer

We shop your file across 200+ wholesale lenders simultaneously. Wholesale rates are typically lower than what retail banks offer to walk-in customers.

Question 32

What is a debt-to-income ratio and why does it matter?

Accepted Answer

DTI compares your monthly debt payments to your gross monthly income. Most conventional lenders want a DTI at or below 45%.

Question 33

How do lenders verify income for hourly or salaried workers?

Accepted Answer

Lenders want two years of W-2s and 30 days of recent pay stubs. They average your income over two years to calculate qualifying income.

Question 34

What is a pre-approval and how is it different from pre-qualification?

Accepted Answer

Pre-qualification is a quick estimate based on self-reported info. Pre-approval means we've verified your income, assets, and credit — sellers take it far more seriously.

Question 35

How does my credit score affect my mortgage rate?

Accepted Answer

Higher scores get lower rates. Moving from a 680 to a 740 can save you thousands over the life of a loan. Rates vary by borrower profile and market conditions.

Question 36

Can I get a mortgage after a bankruptcy in Sunnyvale?

Accepted Answer

Yes, but there are waiting periods. FHA typically requires two years after a Chapter 7 discharge. Conventional usually requires four years.

Question 37

What is a profit and loss statement loan?

Accepted Answer

A P&L loan uses a CPA-prepared profit and loss statement to verify income instead of tax returns. It's a strong option for business owners who write off a lot.

Question 38

How competitive is the Sunnyvale housing market?

Accepted Answer

Sunnyvale is one of the most competitive submarkets in Silicon Valley. Strong pre-approvals and fast closing timelines matter — sellers notice.

Question 39

What is an equity appreciation loan?

Accepted Answer

These programs let you tap into expected home appreciation — structure varies by lender. They're niche products suited for specific financial situations.

Question 40

What is a community mortgage program?

Accepted Answer

Community mortgage programs are designed for low-to-moderate income buyers. They offer flexible guidelines and are worth exploring if you're near area median income limits.

Question 41

How do I start the mortgage process with SRK CAPITAL?

Accepted Answer

Reach out and we'll start with a quick call to understand your situation. From there, we match you with the right lender and loan structure across our network.

Mortgage FAQs for Sunnyvale, CA Homebuyers