Question 1

What is the conforming loan limit in Alameda County?

Accepted Answer

Alameda County has a high-cost conforming limit above $1 million. Loans at or below that limit qualify as conventional.

Question 2

Do jumbo loans always have higher rates than conventional?

Accepted Answer

Not always — but jumbo rates vary more by lender. Strong credit and reserves can close the gap significantly.

Question 3

How much do I need in reserves for a jumbo loan?

Accepted Answer

Most jumbo lenders want 12 months of mortgage payments in verified reserves. Some require more depending on loan size.

Question 4

Can I put less than 20% down on a jumbo loan?

Accepted Answer

Some lenders allow 10% down on jumbo. Expect stricter credit and income requirements at that down payment level.

Question 5

Which loan is faster to close?

Accepted Answer

Conventional loans typically close faster. Jumbo underwriting takes more time due to stricter income and asset verification.

Question 6

Does a higher credit score help on both loan types?

Accepted Answer

Yes. On conventional, 740+ gets top-tier pricing. On jumbo, strong credit is often the difference between approval and denial.

Conventional vs Jumbo Loans in Dublin, CA