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San Ramon's housing market sits well above conforming loan limits. Most single-family homes here require jumbo financing to close.
Gated communities, new construction in Dougherty Valley, and executive homes near Bishop Ranch regularly exceed $1.3 million. That puts you in jumbo territory from the start.
Jumbo Loans in San Ramon
Expect lenders to want 700+ credit and 20% down minimum. Many require 720+ for the best rates on purchases above $2 million.
You'll need reserves. Six months minimum, often 12-18 months for loans above $1.5 million. Debt-to-income under 43% is standard, though some portfolio lenders go to 50%.
Documentation means full tax returns and asset verification. No stated income here, even for self-employed borrowers with strong balance sheets.
Local decision guide
Use this guide to connect jumbo loans eligibility, lender expectations, and local market factors before comparing payment options in San Ramon.
San Ramon's housing market sits well above conforming loan limits. Most single-family homes here require jumbo financing to close.
Gated communities, new construction in Dougherty Valley, and executive homes near Bishop Ranch regularly exceed $1.3 million. That puts you in jumbo territory from the start.
Expect lenders to want 700+ credit and 20% down minimum. Many require 720+ for the best rates on purchases above $2 million.
Not all lenders price jumbo loans the same. Portfolio lenders often beat the big banks on loans above $2 million because they hold the paper.
Some wholesale lenders offer better rates than retail banks but require working through a broker. Others specialize in tech employees with equity comp.
Rate differences of 0.25% to 0.50% are common between lenders on the same profile. Shopping matters when you're borrowing $1.5 million.
San Ramon buyers often qualify on paper but trip up on reserves. Lenders want liquid assets, not just retirement accounts you can't touch without penalty.
Tech employees with RSUs get tripped up by vesting schedules. Not all lenders count unvested equity the same way. Some discount it heavily, others ignore it entirely.
Timing the lock matters more on jumbo loans. A 0.125% rate move costs you $15,000 over 30 years on a $1.2 million loan. Lock when it makes sense, not when you panic.
Conforming loans stop at $832,750 in Contra Costa. Above that, you're in jumbo pricing whether you borrow $850,000 or $2.5 million.
ARMs make sense for some jumbo borrowers planning to move in 5-7 years. The rate discount can save $30,000+ compared to a 30-year fixed on a $1.5 million loan.
Interest-only options exist but limit your lender choices. Most portfolio lenders offer them, but rates run 0.50-0.75% higher than fully amortizing jumbo loans.
San Ramon Unified schools drive values in neighborhoods like Gale Ranch and Windemere. Appraisals hold better here than in less desirable school zones.
HOA fees in newer developments run $200-$600 monthly. Lenders count that in DTI, which tightens qualification when you're already pushing limits.
Proximity to Bishop Ranch and I-680 affects values. Properties near transit and corporate campuses appraise more consistently than edge-of-town locations.
Most lenders require 700 minimum, but 720+ gets you the best rates. Scores below 700 limit your options significantly on loans above $1 million.
Expect 20% minimum on most properties. Some lenders go to 10% down but charge higher rates and require perfect credit plus large reserves.
Depends on the lender and vesting schedule. Most count vested RSUs fully but discount unvested equity 25-50% or exclude it entirely.
Rates vary by borrower profile and market conditions. Jumbo rates sometimes beat conforming rates when investors favor jumbo paper.
Six months minimum is standard. Loans above $1.5 million often require 12-18 months of reserves including property taxes and insurance.
ARMs typically price 0.50-1.00% below 30-year fixed rates. They make sense if you plan to sell or refinance within the fixed period.