best loan program for SFH in sunnyvale?
Sunnyvale (Santa Clara County) qualifies as a high-cost area, making it eligible for high-balance conforming limits and all CalHFA California-only programs. Multiple program tiers are available depending on loan size, borrower eligibility, and down payment needs.
Conforming Loan Limits — Santa Clara County (2026)
- Standard 1-unit: $832,750
- High-Cost 1-unit: $1,249,125
- Eligible property types explicitly include "One-unit primary single family residence (SFR) and planned unit development (PUD)"
- All CalHFA programs explicitly require the property to be in California — Sunnyvale satisfies this requirement
1. CalHFA Conventional Programs (Forward Lending / Windsor Mortgage — first-time homebuyers only)
CalHFA Conventional / CalReady Conventional
Per Forward Lending's matrix for SFR and Condos :
- Max Loan Amount: Conforming Loan Limits
- LTV/CLTV: 97% / 105%
- Min FICO: 680 (max DTI 45%) or 700 (max DTI 50%)
- Subordinate: Must pair with MyHome (mandatory); Fannie Mae Community Seconds optional
- AUS: Fannie Mae DU Approve/Eligible only — no manual underwriting
CalPLUS Conventional (paired with ZIP)
Per Windsor Mortgage and Forward Lending :
- Max Loan Amount: Conforming Loan Limits
- LTV/CLTV: 97% / 105% for SFR
- Min FICO: 680 (max DTI 45%) or 700 (max DTI 50%)
- Must be combined with both MyHome AND ZIP (mandatory)
- ZIP provides 2% or 3% of the first mortgage for closing costs only, at 0% interest, in 3rd lien position
CalPLUS Access Conventional (paired with MyAccess)
Per Forward Lending :
- Same LTV, FICO, and DTI parameters as CalPLUS Conventional
- Must be combined with MyHome and MyAccess (mandatory)
- MyAccess provides 2.5% of the total mortgage loan amount for down payment or closing cost assistance
CalHFA Dream For All Conventional
Per Forward Lending and CalHFA :
- LTV/CLTV: 97% / 105% for SFR
- Min FICO: 680 (max DTI 45%) or 700 (max DTI 50%)
- Requires at least one borrower to be a first-generation homebuyer (not just a first-time homebuyer)
- Paired with Dream For All Shared Appreciation loan: up to $150,000 or 20% of appraised value/sales price, whichever is less
- CLTV must be between 95% and 105%
MyHome Assistance Program (Subordinate — applies across CalHFA Conventional programs)
Per CalHFA and Forward Lending :
- Up to 3% of appraised value or sales price (whichever is less) for down payment and closing costs
- 1% interest rate, deferred for the life of the first mortgage
- Recorded in 2nd lien position
- Borrowers must be first-time homebuyers
2. CalHFA FHA Programs (Forward Lending — first-time homebuyers only)
Per Forward Lending's FHA CalHFA Matrix :
CalHFA and CalReady FHA (SFR)
- Max Loan Amount: FHA County Loan Limits
- Max LTV/CLTV: 96.5% / 105%
- Min FICO: 640 (max DTI 45%) or 700 (max DTI 50%) via AUS; 660 (max DTI 43%) via manual underwriting
- Must pair with MyHome (mandatory)
CalPLUS FHA
- Same LTV, FICO, and DTI tiers as CalHFA FHA
- Must combine with both MyHome and ZIP (mandatory)
CalPLUS Access FHA
- Must combine with MyAccess and MyHome (mandatory)
DTI overlay :
- Max DTI 50% for FICO ≥ 700 (AUS)
- Max DTI 45% for FICO 640–699 and/or manufactured homes
- Manual underwriting: max 43% DTI, min 660 FICO, compensating factors required if ratios exceed 31/43%
3. CalHFA VA Program
Per CalHFA :
- VA-insured first mortgage — 30-year fixed rate
- Property must be a single-family, one-unit residence including approved PUDs
- Borrower must present a valid Certificate of Eligibility per VA guidelines
- Non-occupant co-borrowers not allowed
- Homebuyer education required for first-time homebuyers
- California only
- Note: Strongest option for eligible veteran borrowers — 0% down potential, no PMI
4. Jumbo Plus Program (New Wave Lending — loans above high-cost conforming limit)
For purchase prices above $1,249,125 in Santa Clara County :
- Min loan amount: $1 over current conforming limit
- Loan terms: 20, 25, 30-year fixed, fully amortizing
- Max DTI: 49.99% (DTI >45% requires min 700 FICO and 6 months reserves)
- Underwriting: DU Approve/Ineligible due to loan amount; follows Fannie Mae Single Family Selling Guide for topics not specifically addressed
- Eligible property: Single family, PUD, Condo (and 2–4 units)
- Derogatory event waiting period: BK/SS/FC/DIL/NOD — 4 years from completion/discharge/dismissal date
- FTHB: Max loan amount $1.5M, primary and second home only
- Note: Sunnyvale home prices frequently exceed the $1,249,125 high-balance threshold — this program will apply in many purchase scenarios
5. USDA — Ruled Out
The CalHFA USDA Program explicitly requires the "property must be located in a USDA eligible rural area" Sunnyvale is a dense urban city in Silicon Valley and does not qualify.
Program Comparison
| Program | FICO Min | Max LTV | Max DTI | Down Payment / Cost Assistance | FTHB Required |
|---|---|---|---|---|---|
| CalHFA Conventional | 680 | 97% | 45–50% | MyHome (3%) | Yes |
| CalPLUS Conventional + ZIP | 680 | 97% | 45–50% | MyHome + ZIP (closing costs) | Yes |
| CalPLUS Access Conventional | 680 | 97% | 45–50% | MyHome + MyAccess (2.5%) | Yes |
| Dream For All Conventional | 680 | 97% | 45–50% | Up to $150K or 20% shared appreciation | Yes (first-gen required) |
| CalHFA FHA | 640 | 96.5% | 43–50% | MyHome (3%) | Yes |
| CalHFA VA | Per VA | Per VA | Per VA | N/A | Education req. for FTHB |
| Jumbo Plus | 700+ | Per matrix | 49.99% | None | Optional (max $1.5M if FTHB) |
Decision Guidance by Borrower Profile
- First-time buyer, loan within conforming limits, FICO 640–679: CalHFA FHA + MyHome — lower FICO floor (640 vs. 680) and higher LTV tolerance
- First-time buyer, FICO 680+, avoiding FHA MIP: CalHFA Conventional + MyHome — conventional avoids ongoing FHA mortgage insurance costs
- First-generation homebuyer needing maximum down payment assistance: CalHFA Dream For All Conventional — up to $150,000 in shared appreciation assistance is the most substantial DPA option available
- Veteran borrower: CalHFA VA — zero down potential, 30-year fixed, no PMI
- Loan amount above $1,249,125: New Wave Lending Jumbo Plus — high Sunnyvale price points make this program relevant for a significant share of purchase transactions
- Non-first-time buyer, non-traditional income, or Non-QM profile: Confirm borrower details — additional program options may apply
