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in Glendale, CA
Glendale sits in the heart of LA County where property prices regularly push past conforming loan limits. Once you cross that threshold, you're shopping for a jumbo loan whether you planned to or not.
The line between conventional and jumbo isn't about quality or risk. It's about loan size. Cross the 2024 conforming limit of $806,500 for LA County, and lenders treat your file differently.
Conventional loans stay within conforming limits set by the FHFA. Fannie Mae and Freddie Mac buy these loans, which creates standardized approval guidelines and competitive pricing.
You'll typically need 620+ credit and 3% down minimum. Private mortgage insurance kicks in below 20% down, but it drops off once you hit that equity mark. These loans work cleanly for most Glendale properties under $800K.
Jumbo loans handle amounts above conforming limits. No government backing means each lender sets their own terms, but most want stronger borrower profiles than conventional requirements.
Expect 680-700 minimum credit and 10-20% down depending on loan size. Cash reserves matter more here. Lenders typically want 6-12 months of housing payments in the bank after closing. Rates vary by borrower profile and market conditions.
Credit standards tighten with jumbo loans. A 640 score might slide through conventional underwriting, but jumbo lenders want mid-600s minimum. Debt-to-income ratios get scrutinized harder too.
Down payment requirements jump significantly. While conventional allows 3% down, jumbo typically starts at 10% and often requires 20% for the best terms. Asset reserves become non-negotiable rather than preferred.
If you're buying under $800K in Glendale, conventional wins on flexibility and cost. Lower down payments, easier credit requirements, and standardized pricing make these loans accessible.
Above that limit, you don't choose jumbo—the purchase price chooses it for you. Focus on building the strongest profile possible: maximize credit scores, stack reserves, and budget for larger down payments. We shop 200+ lenders to find jumbo programs that match your specific situation.
No. The $806,500 conforming limit is absolute in LA County. You'll need a jumbo loan for any amount above that threshold.
Not always. Strong borrower profiles sometimes get jumbo rates competitive with conventional. Rates vary by borrower profile and market conditions.
Most jumbo lenders want 680 minimum, but 700+ gets better pricing. A few portfolio lenders go to 660 with compensating factors.
Conventional requires PMI below 20% down. Some jumbo lenders offer lender-paid MI or piggyback seconds to avoid monthly PMI.
Plan for 6-12 months of total housing payment in liquid assets after closing. Higher loan amounts push toward the 12-month end.