Mortgage Broker in San Jose, CA - More Options, Better Rates
Matt Mayo is a licensed mortgage broker serving San Jose and Silicon Valley with access to over 150 wholesale lenders. From first-time buyers looking at condos in North San Jose to tech professionals buying single-family homes in Willow Glen or Evergreen, I shop the wholesale market to find financing that fits your situation — not just the one option a single bank offers. Book a free consultation to see what you qualify for.
Book a Free ConsultationSan Jose Market Snapshot
Last updated: Mar 1, 2026
Median Price
$1,300,000
Avg Days on Market
12
Entry Price
$500K-$750K (condos and townhomes in East SJ, Downtown, Berryessa)
High End
$2M-$3.5M+ (Willow Glen, Almaden Valley, Silver Creek)
Typical properties: Single-family homes, condos, townhomes, and new-construction infill
Source: Redfin San Jose Housing Market
Loan Programs That Work in San Jose
Jumbo
With a median price of $1,300,000 and the conforming limit at $1,249,125, most single-family home purchases in San Jose require jumbo financing. I work with lenders that offer jumbo loans at 5-10% down — some with no PMI. In a market where the difference between lenders on a $1.3M loan can be tens of thousands over the life of the loan, having access to 150+ lenders matters.
Conventional
For purchases under $1,249,125 — mostly condos and townhomes — conventional financing is the most straightforward path. First-time buyers can put as little as 3% down. If you can keep your loan under $832,750, you get the best conforming rates. Between $832,750 and $1,249,125, you're in high-balance territory with slightly higher pricing but still competitive terms.
FHA
The 2026 FHA limit for Santa Clara County is $1,249,125 — the national ceiling. FHA works well for San Jose buyers targeting condos and townhomes in the $500K-$800K range, where 3.5% down keeps the out-of-pocket manageable. On a $700K condo, your down payment is $24,500.
VA
San Jose has a significant veteran population, and VA financing is one of the strongest tools in this market. Zero down payment on any purchase price with full entitlement — no loan limit. On a $1.3M home, that's $1.3M financed with no down payment and no monthly mortgage insurance. In a high-cost market, VA is hard to beat.
Non-QM
Silicon Valley's income landscape is different from most markets. RSU-heavy compensation, startup equity, contract work, and self-employment income don't always fit neatly into traditional underwriting. I work with lenders that offer bank statement programs, asset depletion loans, and other non-QM products designed for exactly these situations.
DSCR (Investor)
San Jose's rental market is one of the strongest in the country — average rents for a one-bedroom run around $2,800/month. DSCR loans let investors qualify based on the rental income of the property, not personal income or tax returns. If the rent covers the payment, you can qualify. No W-2s, no pay stubs.
HELOC / Home Equity
If you already own in San Jose, you're likely sitting on significant equity. The median home has appreciated substantially over the past several years. A HELOC lets you tap that equity for renovations, a down payment on a second property, or debt consolidation — without touching your existing first mortgage rate. I work with lenders offering HELOCs up to 95% CLTV.
Santa Clara County Loan Limits
2026
FHA Limit
$1,249,125
Conforming Limit
$1,249,125
Local Assistance Programs in San Jose
CalHFA MyHome Assistance Program
Deferred-payment junior loan up to 3.5% of the purchase price for down payment or closing costs. No monthly payment — it's due when you sell, refinance, or pay off the first mortgage.
Income limits vary by county. Must be paired with a CalHFA first mortgage.
CalPlus with ZIP Extra
CalHFA conventional program paired with a zero-interest closing cost grant of up to 3% of the loan amount. The grant doesn't need to be repaid.
Comes with a slightly higher rate on the first mortgage. Works well for buyers who are tight on cash at closing but have solid income.
Dream For All Shared Appreciation Loan
Deadline: Mar 16, 2026Up to 20% of the purchase price as a down payment loan with no monthly payments. This is a lottery-based program — you register during an open window, and if selected, you receive a funding voucher. When you sell the home, you repay the original loan plus a share of the appreciation.
First-generation, first-time buyers. California resident required. Registration opens once per year. The 2026 registration window closes March 16, 2026 at 5:00 PM PDT.
Empower Homebuyers SCC (Housing Trust Silicon Valley)
Up to 30% of the appraised value as a deferred down payment assistance loan for first-time buyers purchasing in Santa Clara County. This is one of the most generous local programs in the state.
First-time homebuyer. Must purchase in Santa Clara County. Income limits apply. Program is administered by Housing Trust Silicon Valley.
Lender-Specific DPA Programs
I have access to wholesale lender programs that can cover up to 100% of the FHA down payment. These change frequently and have their own income limits and guidelines. They're only available through brokers with wholesale lender relationships — not through banks.
Income limits vary by program. Only available through mortgage brokers.
Neighborhood Insights
San Jose is a sprawling city — the third largest in California by area — and each neighborhood has its own market dynamics. What works for a buyer in North San Jose is different from what works in Willow Glen or Almaden. Here's what I tell people who are new to the area: Willow Glen is one of the most sought-after neighborhoods in San Jose. Tree-lined streets, a charming downtown strip along Lincoln Avenue, and a strong community feel. Prices for single-family homes typically start around $1.5M and run up to $2.5M+. Jumbo financing is the norm here, and having a broker who can shop jumbo rates across multiple lenders saves you real money. North San Jose and Berryessa are where a lot of first-time buyers and tech workers start looking. Newer condos and townhomes near the VTA BART station, with prices starting in the $500K–$750K range. FHA and conventional loans work well here — you're under the conforming limit, which means more options and better rates. Evergreen is a popular family neighborhood in the foothills on San Jose's east side. Single-family homes on larger lots, good schools, and a suburban feel. Prices range from $1.2M to $1.8M for most properties. A mix of conforming high-balance and jumbo financing depending on the price point. Almaden Valley is one of San Jose's premium neighborhoods — large lots, top-rated schools, and a quiet, suburban feel. Prices regularly push past $2M. Jumbo is the standard loan product here, and the difference between lenders on rates and down payment requirements can be significant. Downtown and Japantown are where you'll find the most urban lifestyle — newer high-rise condos, converted lofts, and walkable access to restaurants and transit. Entry points start around $500K–$650K for condos. Conventional and FHA both work, though FHA condo approval status matters and needs to be checked on a project-by-project basis. Silver Creek and East Foothills offer mid-range single-family homes in the $1.1M–$1.5M range, with some properties pushing higher. This area draws families looking for newer construction and proximity to East San Jose's tech campuses. The key takeaway is that San Jose's price range is enormous. A $550K condo in Downtown and a $3M home in Almaden Valley are both "San Jose" — but they require completely different loan strategies. That's where having a broker with access to 150+ lenders makes the biggest difference.
Why Work With a San Jose Mortgage Broker?
When you go to a bank for a mortgage, you get that bank's rates and that bank's guidelines. If they can't make your loan work — or if their rate isn't competitive — you start over somewhere else. As a mortgage broker, I work with over 150 wholesale lenders. I submit your loan to whichever lender gives you the best combination of rate, terms, and approval likelihood. In a market like San Jose, where the median home costs $1.3M and most purchases require jumbo financing, the difference between lenders can be tens of thousands of dollars over the life of your loan.
Silicon Valley's income landscape also creates unique challenges. RSUs, stock options, startup equity, contract work, and self-employment income don't always fit into traditional underwriting boxes. I know which lenders handle these income types well and which ones don't — because I work with all of them.
What "150+ Lenders" Actually Means for You
It's not just about rate shopping — though that matters, especially on jumbo loans. Different lenders have fundamentally different guidelines. One might count your RSU income at full value while another discounts it by 25%. One might allow 10% down on a $1.5M jumbo while another requires 20%. One might approve a condo project that another flags.
Here's a real-world example: a San Jose buyer with a strong base salary at a tech company, plus significant RSU income. The bank they went to first averaged the RSUs over the vesting schedule and couldn't get the DTI to work. I placed them with a wholesale lender that uses a more favorable RSU calculation — they qualified with room to spare, at a lower rate than the bank was quoting.
That's what access to 150+ lenders means in practice. It's not a marketing number — it's the difference between getting the home you want and losing it because one bank said no.
My Pre-Approval Actually Means Something
In San Jose's market — where homes sell in a median of 12 days and multiple offers are the norm — the quality of your pre-approval directly impacts whether your offer gets accepted. I do a full document review before I issue a pre-approval letter: income verification, asset documentation, credit analysis, and a preliminary lender match.
When your agent submits an offer, the listing agent can call me and I can speak to your file specifically. That's a different conversation than "they got an automated pre-approval from an online lender." In a competitive market, that credibility wins.
Your San Jose Mortgage Broker
I'm Matt Mayo, a licensed mortgage broker with United American Mortgage. I serve San Jose and Silicon Valley buyers with the same access to 150+ wholesale lenders and the same thorough process I bring to every client.
Whether you're a first-time buyer trying to break into the market with a condo, a tech professional buying your first single-family home, a veteran using your VA benefit, or an investor building a rental portfolio — I'll find the right loan for your situation. Not the loan that's easiest to close, but the one that actually fits.
Frequently Asked Questions
How much do I need for a down payment on a home in San Jose?
It depends on the price and loan type. On a $700K condo with FHA, you'd need about $24,500 (3.5%). On a $1.3M single-family home, jumbo lenders typically require 5-10% down ($65K-$130K). VA is zero down regardless of price. DPA programs like Empower Homebuyers SCC can provide up to 30% of the appraised value for qualifying first-time buyers.
What is the conforming loan limit in Santa Clara County for 2026?
The 2026 conforming loan limit for Santa Clara County is $1,249,125 — the national ceiling for high-cost areas. Loans up to $832,750 get the best conforming rates. Loans between $832,750 and $1,249,125 are high-balance conforming. Above $1,249,125, you need jumbo financing.
Can I use RSU income to qualify for a mortgage in San Jose?
Yes, but it depends on the lender. Some lenders average RSU income over the vesting schedule, some use the most recent year, and some won't count it at all. As a broker, I know which of my 150+ lenders have the most favorable RSU income calculations — which is critical in a market where RSUs make up a significant portion of many buyers' compensation.
What first-time buyer programs are available in San Jose?
San Jose buyers can access Empower Homebuyers SCC (up to 30% of appraised value), Dream For All (up to 20%, lottery-based), CalHFA MyHome (up to 3.5% deferred loan), CalPlus with ZIP Extra (up to 3% closing cost grant), and lender-specific DPA programs available through my wholesale relationships.
What's the difference between a mortgage broker and a bank?
A bank has one set of rates and guidelines. As a mortgage broker, I shop your loan across 150+ wholesale lenders. That means more options, better rates, and access to specialty programs — especially important in San Jose where jumbo loans, non-QM products, and complex income situations are common.
How fast can I close on a home in San Jose?
Most purchase transactions close in 21-30 days. In San Jose's fast-moving market, I structure the pre-approval process so that by the time you're making offers, most of the underwriting legwork is already done. If we're using DPA programs, timelines may extend to 30-45 days.
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