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in Kingsburg, CA
Most Kingsburg buyers fit within conventional loan limits. Jumbo loans step in when you're financing properties above the conforming ceiling.
The line between these two isn't about credit quality—it's purely about purchase price. Both serve creditworthy borrowers but with different underwriting standards.
Conventional loans max out at the conforming limit—currently $806,500 in Fresno County. You can put down as little as 3% if your credit is strong.
These loans follow Fannie Mae and Freddie Mac guidelines, which means predictable underwriting. Lenders price them aggressively because they can sell the loans to these agencies.
PMI drops off automatically at 78% loan-to-value if you start below 20% down. Rates stay competitive because there's a massive secondary market for these mortgages.
Jumbo loans finance anything above $806,500 in Fresno County. Expect to put down at least 10%, often 20% depending on the property price.
Underwriting gets more thorough—lenders verify reserves, scrutinize debt ratios harder, and want to see stable income. There's no government backing, so banks price in more risk.
Rates can surprise you. Sometimes jumbos price below conventional when you bring substantial down payment and reserves. Lenders compete hard for well-qualified jumbo borrowers.
The conforming limit determines which loan you need. Under $806,500 means conventional. Above that threshold requires jumbo.
Down payment flexibility differs sharply. Conventional allows 3% down in many cases. Jumbo lenders want 10% minimum, often pushing for 20% on higher loan amounts.
Documentation intensity varies. Conventional follows standard Fannie/Freddie checklists. Jumbo underwriters dig deeper into reserves, income stability, and overall financial picture.
PMI works differently. Conventional requires it below 20% down. Jumbo loans never carry PMI, but they price the risk into the rate instead.
Your purchase price makes the decision for you most of the time. If Kingsburg homes you're considering stay under $806,500, conventional gives you better flexibility and lower barriers to entry.
Jumbo becomes necessary above that limit. If you have substantial assets, strong income, and 20% to put down, jumbo rates often beat what you'd expect.
Some buyers near the conforming limit intentionally stay below it to access easier qualification. Others stretch into jumbo territory for the right property, knowing they have the financial cushion lenders require.
Anything above $806,500 requires a jumbo loan in Fresno County. That's the 2025 conforming limit for this area.
Not necessarily. With 20% down and strong reserves, jumbo rates often compete with or beat conventional pricing.
No, conventional loans require PMI below 20% down. It drops off automatically when you reach 78% LTV through payments.
Most want 6-12 months of mortgage payments in liquid reserves. Higher loan amounts push toward the 12-month end.
Conventional can go as low as 620. Jumbo lenders typically want 700 minimum, prefer 740+ for best pricing.