Question 1

What's the monthly payment on a $1.25M jumbo at today's rate?

Accepted Answer

At 6.375% on a $1.25M loan, principal and interest run $7,793 per month. Add property taxes, insurance, and HOA if applicable. This assumes 80% LTV and 740 FICO as of April 14, 2026.

Question 2

Do I need 20% down to qualify for a jumbo loan?

Accepted Answer

Yes—20% down is the standard minimum for jumbo loans. Some lenders accept 15% with exceptional credit and reserves, but 20% gets you the best rate and fastest approval. Less than 20% triggers additional scrutiny and rate penalties.

Question 3

How long does a jumbo loan take to close?

Accepted Answer

Jumbo closings typically run 45-60 days from application to funding. Full documentation, appraisal, and underwriting take longer than conforming. If you're missing documents or reserves, add 2-3 weeks.

Question 4

What FICO score do I need for a jumbo in Hayward?

Accepted Answer

Most jumbo lenders require 740+ FICO. Below 740, rates jump 0.25-0.5% and approval becomes harder. At 740, you're in the sweet spot for pricing and speed.

Question 5

Is there PMI on a jumbo loan?

Accepted Answer

No—jumbo loans have no PMI at any LTV. There's no mortgage insurance at all. The tradeoff is a higher interest rate than conforming and stricter underwriting requirements.

Jumbo Loans in Hayward: Fixed Rate for Properties Above the Conforming Limit