Cupertino, CA Home Loans

Mortgage and Lending with Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA, NMLS #138061 MMCD #1141

Cupertino, CA Home Loans



     Cupertino, CA is a small, affluent city just west of San Jose.  When buying a home in Cupertino, buyers have many options for mortgage financing, so it's important to work with a professional in making the right choice on a loan product.  Conventional loans, Jumbo loans, FHA, VA, portfolio, investor, and rehab loans are all available options when buying a home in Cupertino.  In fact, the only program that is not readily available in the area is USDA financing, due to the fact that Cupertino is in close proximity to major cities.


Cupertino, CA Mortgage

    Prices for homes vary greatly in the high end and very competitive Cupertino market.  In 2015, the lowest priced condo sold for $425,000 for a 1 bed, 1 bath, and ranged all the way up to $4.1 million for a 9 bed, 6 bath new construction home.  The market offers something for all budgets, with prices depending largely on size and property type.  In this highly competitive market, it's important to have great professional guidance in buying or selling.


For more detailed 2015 sales data for Cupertino, click the house!



Cupertino, CA FHA Loans


     FHA loans in Cupertino require a 3.5% down payment, which can come in the form of a gift.  Also allowing up to 6% sellers assistance, the FHA loan program makes it possible to buy a Cupertino home with little money out of pocket.  Since Cupertino is in Santa Clara county (an area considered by HUD to be 'high cost'), FHA allows base loan amounts up to $625,500 for single family homes.


     FHA loans offer many benefits to Cupertino home buyers.  Rates are low, and are more forgiving of lower credit scores or previous credit issues than conventional loans.  They are also assumable, which is a nice feature for home owners if rates rise in the future.


     The one down side of an FHA loan is the PMI associated with these loans.  With less than a 10% down payment, the PMI is expensive and permanent.  Many buyers who use FHA loans will later refinance to remove the PMI for this reason.



Cupertino, CA Conventional Loans


     Conventional loans are another good lending option in Cupertino, CA.  Conventional loans require a 3% down payment, offer low rates, and typically have lower cost PMI than FHA loans.  For those with 20% or more down payment, there is no mortgage insurance on a conventional loan.  The maximum loan amount for conventional loans in Cupertino is $625,500.


     Conventional loans in Cupertino also allow for sellers assistance to help a buyer with closing costs.  With less than 10% down, a seller can contribute up to 3% of the purchase price of a home toward the buyers cost.  With more than 10% down, contributions are capped at 6%.


     Conventional loans are more sensitive to credit scores, so those with lower credit scores may see higher rates than those with great credit.  PMI on conventional loans is also tiered on a sliding scale based on FICO score & down payment percentage.



Other Loan Programs


VA loans are available for Cupertino home buyers and allow for up to 100% financing with a maximum loan amount of $625,500.  VA loans also allow for sellers assist, so it's possible for qualified veterans to obtain the dream of home ownership with little to no money out of pocket.


Jumbo loans are loans exceeding the maximum loan amounts that other programs are capped at.  In Cupertino, CA, jumbo loans are available up to $10,000,000 with a substantial down payment.  For certain jumbo programs, up to 90% of a home purchase can be financed with NO PMI.  Typically, jumbo loans have slightly higher rates than conventional loans, but allow home buyers to finance a much larger amount of money.


Portfolio "Niche" products are those products that fit unique borrowers.  Asset depletion programs, loans for foreign nationals, or for unique properties all fall into "portfolio lending".  These niche products ensure that buyers with all types of backgrounds & financial situations can obtain a loan. 


If you have questions on a loan product or program, you can get an immediate answer here.


     Cupertino, CA offers a tremendous opportunity for home owners to enjoy a very high quality of life in the heart of Silicon Valley.  If you're considering buying a home in Cupertino or the surrounding areas, or want more area specific information, I'd highly recommend speaking with David Verbera of Realty World.  David knows his market, is an expert negotiator, and most important of all, puts his clients wants & needs first and foremost in every sale.


  If you have any questions about a Cupertino, CA mortgage, don't hesitate to give me a call at 484.680.4852 or ask an expert here.  I specialize in residential home purchases AND refinances.



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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

John I totally agree, Buyers need to not only search out a Lender that has the right loan product for them, but also a Lender who has Loan Originators knowledgeable about their product.  Your blog makes it clear you have a good grasp on both.

By the way even know I know better, I still can't get over the cheapest house that sold in the in 2013 in Cupertino was $731,500.  A house that price here in the town I live in would be among the most expensive.  What a difference between the left coast and right coast :)

Jun 12, 2014 07:29 AM #1
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

John, Your knowledge of loans is impressive to say the least. I know from working with you that you focus on customer service ... always keeping the client's best interests at heart. You possess a combination of desirable qualities that are rare to find in the lending industry. It is an honor to work with you. My clients appreciate the fact that I can refer them to top professionals in the industry.  

Jun 12, 2014 08:51 AM #2
Wayne and Jean Marie Zuhl
Samsel & Associates - Clark, NJ
The Last Names You'll Ever Need in Real Estate

Cupertino is a great place.  Anyone looking to buy or refinance there should definitely contact John Meussner!

Jun 12, 2014 09:03 AM #3
David Shamansky
US Mortgages - David Shamansky - Highlands Ranch, CO
Creative, Aggressive & 560 FICO - OK, Colorado Mtg

I will say I am envious of your loan sizes but do not envy your traffic out there lol

Jun 12, 2014 12:31 PM #4
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning John. Outstanding post, as usual. I can certainly understand why clients work with you and they are very wise to do so.

Jun 12, 2014 07:30 PM #5
John Meussner
Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA, - Walnut Creek, CA
#MortgageMadeEasy Walnut Creek, CA 484-680-4852

George - thanks for the comment.  The property values out here are mindblowing compared to back east.  There's only so much space close to the ocean with consistent sunshine & 75 degree days...that space charges a premium for sure.


Kathleen - thank you so much for the kind words, very much appreciated.


Wayne & Jean - thanks!  In the same respect, anyone in Union County, NJ would do themselves a favor to trust team Zuhl with their purchase or sale.


David - HA!  The traffic can be miserable but I've got the timing down to avoid rush hour pretty well...once in a while though, yes, a 15 minute trip takes an hour and a half.


Joe - thank you very much, appreciate the kind words.

Jun 13, 2014 07:08 AM #6
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John Meussner

#MortgageMadeEasy Walnut Creek, CA 484-680-4852
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