Question 1

What's the conforming loan limit in Lancaster?

Accepted Answer

$832,750 for Los Angeles County. Anything above that requires jumbo financing with different approval standards.

Question 2

Can I get a jumbo loan with 10% down?

Accepted Answer

Yes, but expect higher rates and stricter approval. Most lenders prefer 20% down on jumbo loans to offer competitive pricing.

Question 3

Do jumbo loans always have higher rates?

Accepted Answer

Usually, yes. The rate premium runs 0.25-0.75% higher, though strong credit and big down payments narrow the gap.

Question 4

What credit score do I need for each loan type?

Accepted Answer

Conventional allows 620 minimum. Jumbo lenders typically want 700+, with best pricing at 740 or higher.

Question 5

Can I avoid jumbo loans on a $800,000 purchase?

Accepted Answer

You can structure an 80-10-10: conventional first at $613,240, HELOC for $76,655, and 10% down. Keeps you under conforming limits.

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