Question 1

What loan amount triggers jumbo in Alameda County?

Accepted Answer

Any loan above the FHFA conforming limit for Alameda County is jumbo. Verify the current limit before assuming — it adjusts annually.

Question 2

Can I get a jumbo loan with 10% down in Albany?

Accepted Answer

Yes, some lenders go to 90% LTV on jumbo. Expect higher rates and stronger reserve requirements at that tier.

Question 3

Do jumbo loans require private mortgage insurance?

Accepted Answer

Most jumbo lenders avoid PMI by structuring the loan differently. Some use a higher rate instead of a separate PMI premium.

Question 4

How long does jumbo underwriting take?

Accepted Answer

Jumbo files take longer than conforming — plan for 30 to 45 days. Complex income or large loan amounts can push that further.

Question 5

Are jumbo rates always higher than conforming rates?

Accepted Answer

Generally yes, though the gap narrows when credit markets shift. Rates vary by borrower profile and market conditions.

Question 6

Can self-employed borrowers get jumbo loans in Albany?

Accepted Answer

Yes, but expect full two-year tax return review and tighter income averaging. Some lenders require 24 months of bank statements instead.

Jumbo Loans in Albany, CA — Finance Beyond Conforming Limits