What is a Jumbo Loan?
A jumbo loan is a mortgage used to finance homes that exceed the conforming loan limits set by Fannie Mae and Freddie Mac. In California, where home prices often surpass those limits, jumbo loans are a common solution for higher-value properties.
That means:
Higher Loan Amounts – Finance homes above county-specific conforming limits.
Luxury and High-Cost Markets – Perfect for California’s competitive housing areas.
Flexible Options – Choose fixed or adjustable rates.
No Government Backing – Jumbo loans are backed by private lenders, which means stricter guidelines but greater flexibility for qualified buyers.
Higher Loan Amounts
Finance homes above county-specific conforming limits.
1
One Loan Instead
of Two
Avoid taking out a first + second mortgage to cover the cost.
Flexible Loan Structures
Fixed or adjustable rates tailored to your goals.
Available for Primary, Secondary, or Investment Properties
Greater property flexibility
JUMBO Loans -
Commonly Asked Questions
-
What is a conventional loan?A conventional loan is the most common type of mortgage in California. Unlike FHA or VA loans, it’s not backed by the government. That gives you more flexibility in down payments, loan terms, and property types.
-
How much do I need for a down payment?First-time homebuyers may qualify with as little as 3% down when they are purchasing a home in California. Many buyers choose 5–20% to lower their monthly payment.
-
Do I need a perfect credit score?No. Conventional loans usually start at 620 FICO. The better your score, the more likely you’ll qualify for lower interest rates.
-
Do I have to pay mortgage insurance?Only if you put less than 20% down. The good news is that private mortgage insurance (PMI) can be removed once you build *20% equity. *Most servicers will require closer to 78% equity.
-
How long does it take to close?With today’s digital process, many conventional loans can close in as little as 2–3 weeks.
-
Can I buy a rental or vacation home with a conventional loan?Yes! Conventional loans work for primary homes, second homes, and investment properties.
-
Are conventional loans better than FHA or VA?It depends. FHA and VA loans are great for certain buyers, but conventional loans offer flexibility, no upfront funding fees, and the ability to drop PMI. We’ll help compare all your options.