Question 1

What is the conforming loan limit in Kings County?

Accepted Answer

The FHFA sets conforming limits annually. Any loan amount above that threshold in Kings County requires a jumbo loan.

Question 2

Can I get a jumbo loan with 10% down?

Accepted Answer

Some lenders allow it, but expect stricter credit requirements and reserve demands. Fifteen to twenty percent is more common.

Question 3

Are jumbo rates always higher than conventional rates?

Accepted Answer

Not always. They move on different tracks. Right now rates are elevated across the board — compare both before deciding.

Question 4

Do jumbo loans require more cash reserves?

Accepted Answer

Yes. Most jumbo lenders want 12 months of mortgage payments in reserves. Some require more for higher loan amounts.

Question 5

Which loan is faster to close?

Accepted Answer

Conventional loans typically close faster. Jumbo loans involve more manual review and can take longer to underwrite.

Conventional vs. Jumbo Loans in Lemoore, CA