Question 1

What's the minimum credit score for jumbo loans in Los Angeles?

Accepted Answer

Most lenders want 700+ for competitive rates. Programs exist at 680, but pricing jumps significantly. Strong compensating factors like low DTI can help.

Question 2

Can I get a jumbo loan with 10% down in LA?

Accepted Answer

Yes, several lenders offer 10% down jumbo programs. You'll need excellent credit, strong reserves, and expect higher rates than 20% down scenarios.

Question 3

How much reserves do I need for a jumbo loan?

Accepted Answer

Typically 6-12 months of total housing payment in liquid assets. Larger loan amounts or marginal credit push toward the 12-month end.

Question 4

Do jumbo loans have PMI in California?

Accepted Answer

No, jumbo loans don't use PMI. Lenders price the risk into the rate instead. This is why down payment size affects pricing directly.

Question 5

What's the jumbo loan limit in Los Angeles County?

Accepted Answer

There's no upper limit, but anything above $832,750 is jumbo. Individual lenders cap their programs between $2-10 million depending on guidelines.

Question 6

Are jumbo rates higher than conforming in LA?

Accepted Answer

Usually yes, but the gap narrowed. Jumbo rates run 25-75 bps higher depending on loan size and borrower profile. Rate shopping across lenders matters.

Jumbo Loans in Los Angeles — Financing Above the Conforming Limit