Morgan Hill Mortgage Broker, Condo to Custom Home
Morgan Hill's condo market and its single-family market are practically two different cities financially.
Recent MLS data shows Morgan Hill condos and townhomes with a median sale price around $700,000, while single-family homes median around $1.5M — more than double. That gap means the financing conversation here depends enormously on what you're buying, not just where. I've spent 30+ years arranging financing across Santa Clara County, including South County purchases spanning both ends of Morgan Hill's range, and matching the loan to the actual property type is exactly where that experience matters.
Two markets under one city name
The 2026 baseline conforming loan limit is $832,750, but Santa Clara County is a federally designated high-cost area, which raises the limit here to $1,249,125 for both conforming and FHA financing on a one-unit property.
In Morgan Hill, that split matters more than almost anywhere else in the county: condos and townhomes recently medianed around $700,000 — comfortably within standard conforming limits — while single-family homes recently medianed around $1.5M, solidly into jumbo territory. A buyer looking at a Morgan Hill condo and a buyer looking at a Morgan Hill single-family home are having two completely different financing conversations, even though both are "Morgan Hill."
Loan programs Morgan Hill buyers use most
Conventional loans
The standard path for Morgan Hill's condo and townhome market, and for single-family homes near the conforming line.
Jumbo & super jumbo loans
The norm for Morgan Hill's single-family home market.
FHA loans
A strong option for first-time buyers targeting Morgan Hill's more accessible condo and townhome inventory.
Self-employed / bank-statement loans
Common among Morgan Hill's mix of tech workers, small business owners, and commuting professionals.
HELOC & cash-out refinance
For longtime Morgan Hill homeowners tapping built-up equity.
VA loans
$0 down for eligible veterans, whether buying a Morgan Hill condo or a single-family home.
Morgan Hill's Below Market Rate (BMR) Ownership Program
Morgan Hill runs a Below Market Rate (BMR) Ownership Program administered by HouseKeys, using an online portal and lottery-based "opportunity drawings" rather than first-come, first-served. Eligibility generally requires being a first-time homebuyer (with an exemption for seniors in age-restricted developments), meeting income limits based on household size and Area Median Income, and staying within program asset limits.
Selection and eligibility details are managed entirely through HouseKeys' online system. It's a genuinely active, currently-administered program — worth checking if you or a family member may qualify.
Local, not corporate
I'm based in Campbell — a straightforward drive down to Morgan Hill — and I've built relationships with the appraisers, agents, and escrow officers who work this market regularly. Because Morgan Hill genuinely splits into two different financing conversations depending on property type, having a broker who treats the condo market and the single-family market as the distinct markets they are — rather than one blended assumption — is exactly what serves you here.