Question 1

What is the current jumbo loan limit in Brentwood?

Accepted Answer

Jumbo loans exceed the conforming limit set by the FHFA for the county. In most California counties, loans above $766,550 qualify as jumbo, though limits can vary. Your lender confirms the current threshold.

Question 2

Do jumbo loans require private mortgage insurance?

Accepted Answer

Most jumbo loans avoid PMI regardless of down payment size. Instead, lenders price the higher risk into the interest rate. Some programs may offer lender-paid options.

Question 3

Can I use a jumbo loan for investment property in Brentwood?

Accepted Answer

Yes, jumbo loans can finance investment properties, though qualification standards tighten considerably. Expect higher down payments, larger reserves, and stricter income documentation for non-owner occupied purchases.

Question 4

How long does jumbo loan approval take?

Accepted Answer

Jumbo loan processing typically requires 30-45 days due to enhanced documentation and appraisal requirements. Complex financial situations or unique properties may extend timelines further.

Question 5

What credit score do I need for a Brentwood jumbo loan?

Accepted Answer

Most jumbo lenders require minimum credit scores of 700, with many preferring 720 or higher for best rates. Stronger scores compensate for the increased loan amounts and associated risk. Rates vary by borrower profile and market conditions.

Jumbo Loans in Brentwood: Finance Your Luxury Home in East Contra Costa County