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in Malibu, CA
Most Malibu homes exceed the 2024 conforming loan limit of $1,149,825. That pushes you into jumbo territory fast.
The loan you choose affects your rate, down payment, and closing timeline. We'll show you which one works for your price point.
Conventional loans conform to Fannie Mae and Freddie Mac guidelines. They offer the lowest rates and easiest approval terms.
You can put down as little as 3% with PMI. Credit scores above 740 get the best pricing. These loans max out at $1,149,825 in LA County.
Most Malibu listings blow past this limit. Conventional works for condos under the threshold or smaller starter properties.
Jumbo loans handle any amount above $1,149,825. This is standard financing for Malibu's beachfront estates and canyon properties.
You'll need 10-20% down and a credit score above 700. Rates sit slightly higher than conventional but stay competitive for strong borrowers.
These loans come with stricter debt-to-income rules. Lenders want to see 12 months of cash reserves after closing.
The conforming limit is the bright line. Below $1,149,825 you can use conventional. Above it, jumbo is your only option.
Jumbo rates run 0.25-0.50% higher for average borrowers. Strong credit profiles can match conventional rates through portfolio lenders.
Down payment minimums differ sharply. Conventional allows 3% down. Jumbo requires 10% minimum, 20% for the best rates.
Reserve requirements separate the two. Conventional needs minimal reserves. Jumbo lenders want 6-12 months of payments in the bank after closing.
If your Malibu property is under $1,149,825, conventional wins. Lower rates, smaller down payment, easier approval.
Above that threshold, jumbo is your path. Focus on getting your credit above 740 and stacking reserves to qualify for competitive rates.
We shop jumbo rates across 200+ lenders daily. Portfolio lenders often beat published rates for high-income borrowers with strong profiles.
$1,149,825 for single-family homes in Los Angeles County. Any loan above this amount is considered jumbo.
Yes, but expect higher rates and stricter approval. 20% down unlocks the best jumbo pricing and terms.
Typically 0.25-0.50% higher. Borrowers with 760+ credit and strong reserves can sometimes match conventional rates.
Most want 6-12 months of mortgage payments in liquid assets after closing. Higher loan amounts may require more.
Only if the purchase price keeps your loan under $1,149,825. Few Malibu condos fall in that range.