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in Irwindale, CA
Irwindale buyers face a simple threshold decision: does your purchase price exceed the 2025 conforming loan limit of $806,500? That number determines whether you need conventional or jumbo financing.
Most Irwindale properties fall within conventional limits, but industrial-adjacent luxury homes and larger estates push into jumbo territory. The loan type changes your rate, down payment requirements, and approval standards.
Conventional loans cover purchases up to $806,500 in Los Angeles County. You can put down as little as 3% with mortgage insurance, and rates typically beat jumbo pricing by 0.125-0.375%.
Credit score minimums start at 620, though you'll need 680+ for competitive pricing. These loans follow Fannie Mae and Freddie Mac guidelines, which means standardized underwriting and faster approvals.
Jumbo loans finance anything above $806,500 with no upper limit. Lenders price these individually since Fannie and Freddie won't buy them, which means stricter requirements but also flexibility for complex income.
Expect 10-20% down depending on loan size and credit profile. Most lenders want 700+ credit scores and larger reserves—typically 12 months of payments in the bank after closing.
The rate gap matters. Conventional loans price off agency guidelines with tight spreads. Jumbo rates run 0.125-0.50% higher depending on loan size, down payment, and credit—that's $200-400 more monthly on a $1 million loan.
Approval standards diverge sharply. Conventional underwriting is automated through Desktop Underwriter. Jumbo deals get manual review, longer timelines, and pickier scrutiny of income documentation and asset sourcing.
If your purchase price stays under $806,500, conventional wins on rate, down payment, and speed. No reason to use jumbo financing when you qualify for agency pricing.
Above that threshold you have no choice—jumbo is your only option. Focus on strengthening your credit score and reserves before applying. A 740 score and 20% down will get you pricing that's nearly conventional.
$806,500 for Los Angeles County. Loans above this amount require jumbo financing regardless of property type.
No. If the loan amount exceeds $806,500, it's jumbo regardless of down payment size. A bigger down payment improves your rate but doesn't change the loan category.
Usually yes, by 0.125-0.50%. Strong borrowers with 20%+ down and 740+ credit can sometimes match conventional pricing on smaller jumbo amounts.
Conventional allows 620 minimum. Jumbo lenders typically want 700+ for approval and 740+ for best pricing.
Most lenders require 12 months of mortgage payments in liquid assets after closing. Larger loans may need 18-24 months.