Question 1

What is the conforming loan limit in Sanger?

Accepted Answer

$832,750 for Fresno County in 2024. Anything above requires jumbo financing.

Question 2

Can I avoid PMI with a conventional loan?

Accepted Answer

Yes, put down 20% or more. You can also drop PMI later once you reach 20% equity through payments or appreciation.

Question 3

Do jumbo loans always have higher rates?

Accepted Answer

Usually yes, by 0.25-0.75%. Lenders price in more risk since they can't sell jumbos to Fannie or Freddie.

Question 4

What credit score do I need for jumbo in Sanger?

Accepted Answer

Most lenders want 700 minimum. Stronger borrowers with 740+ get better rate options.

Question 5

Can I use a conventional loan for a Sanger vineyard property?

Accepted Answer

Only if it's under $832,750 and meets Fannie/Freddie property guidelines. Many vineyard estates require jumbo due to price and acreage.

Question 6

How much should I have in reserves for a jumbo loan?

Accepted Answer

Expect 6-12 months of mortgage payments saved after closing. Larger loans may require 18-24 months.

Conventional vs Jumbo Loans in Sanger: Which Fits Your Budget?