Jumbo Loans

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Home buyers in higher priced areas of California are often not clear on what constitutes a jumbo loan in California.  Basically, it is any loan over the conventional loan limits in the California County you are located in.  

 

Below is a list of the conventional loan limits in some selected California counties

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• Los Angeles:$625,500

• Orange County:$625,500

• Sacramento:$474,950

• San Diego:$546,250

• Santa Clara:$625,500

• San Francisco:$625,500

• Alameda:$625,500

• Contra Costa: $625,500

• San Mateo: $625,500

• Los Angeles:$625,500

• Orange County:$625,500

• Sacramento:$474,950

• San Diego:$546,250

• Santa Clara:$625,500

• San Francisco:$625,500

• Alameda:$625,500

• Contra Costa: $625,500

• San Mateo: $625,500

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Any loan above these above limits falls into the category of a jumbo loan.  Below are some of the quick guidelines to qualifying for a jumbo home loan in California.

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• 720 minimum credit score

• 20% down payment (although we do have a 10% down jumbo loan available for those with a 760 credit score)

• 45% maximum debt-to-income ratios

• Available on single family homes and condos

• Loan limits of up to $2 million and beyond

• Primary residence only

• U.S. Citizens and permanent resident aliens qualify

• 12 months house payment in cash reserves in a non-retirement account

 

Jumbo mortgage 30 year fixed rates are also excellent right now, on part with standard conventional financing rates.