Question 1

What is the jumbo loan limit in San Joaquin?

Accepted Answer

The conforming limit is $806,500 in Fresno County. Anything above that requires jumbo financing.

Question 2

Do jumbo loans always have higher rates?

Accepted Answer

Not anymore. Well-qualified borrowers often see rates within 0.125-0.25% of conventional rates.

Question 3

Can I get a jumbo loan with 10% down?

Accepted Answer

Some lenders allow it, but 20% down gets you better rates. Loan size and credit strength determine minimum down payment.

Question 4

What credit score do I need for each loan type?

Accepted Answer

Conventional loans start at 620. Jumbo lenders typically require 700 minimum, preferring 740+.

Question 5

How much in reserves do jumbo lenders require?

Accepted Answer

Expect 6-12 months of mortgage payments in the bank after closing. Conventional loans usually need just 2 months.

Conventional vs Jumbo Loans in San Joaquin: Which Fits Your Budget?