Question 1

What is the conforming loan limit in Amador County?

Accepted Answer

The FHFA sets conforming limits annually. Any loan above that limit in Amador County is automatically a jumbo loan.

Question 2

Are jumbo rates always higher than conventional rates?

Accepted Answer

Not always. Jumbo rates vary by lender and borrower profile. Rates vary by borrower profile and market conditions.

Question 3

Can I buy a vineyard property with a conventional loan?

Accepted Answer

Yes, if the purchase price stays under the conforming limit. Acreage and agricultural use can complicate appraisals regardless of loan type.

Question 4

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

Accepted Answer

Most jumbo lenders want 12 months of mortgage payments in reserves. Some require more for higher loan amounts.

Question 5

What credit score do I need for each loan type?

Accepted Answer

Conventional loans typically require 620+. Jumbo lenders usually want 700 or higher — some push to 720.

Question 6

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

Accepted Answer

Some lenders allow 10% down on jumbo loans, but options are limited. Expect stricter terms compared to conventional low-down programs.

Conventional vs Jumbo Loans in Plymouth, CA