Question 1

Do most Taft home purchases require a jumbo loan?

Accepted Answer

No. Taft home prices are well below the conforming loan limit for Kern County. Most buyers here will use a conventional or conforming loan.

Question 2

What credit score do jumbo lenders require?

Accepted Answer

Most jumbo lenders want at least 700. Many prefer 720 or higher, especially for larger loan amounts.

Question 3

Can I get a jumbo loan with oil-field income?

Accepted Answer

Yes, but lenders will average two years of tax returns. Bonuses and contract pay are scrutinized harder than straight W-2 income.

Question 4

How much do I need to put down on a jumbo loan?

Accepted Answer

Plan on 20%. Some lenders allow 10-15% down, but pricing improves significantly at 20% or more.

Question 5

Is an ARM a smart move on a jumbo loan in Taft?

Accepted Answer

It depends on your timeline. If you plan to sell or refinance within 7-10 years, an ARM can save real money versus a 30-year fixed rate.

Jumbo Loans in Taft, CA — What You Need to Know