mansion.jfif

BUYING IN HIGHER PRICE?

WE GET YOU THE

LOWEST JUMBO LOANS RATES.

Jumbo Loans

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

  • 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

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.

  • 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.