Question 1

What's the conforming loan limit in Montebello for 2025?

Accepted Answer

$806,500 for single-family homes in Los Angeles County. Anything above that requires jumbo financing.

Question 2

Can I get a jumbo loan with less than 20% down?

Accepted Answer

Yes, but expect higher rates and stricter credit requirements. Most lenders prefer 20% down for best jumbo pricing.

Question 3

Do jumbo loans have higher interest rates than conventional?

Accepted Answer

Not always. Strong borrowers with 20%+ down often get competitive jumbo rates. Rates vary by borrower profile and market conditions.

Question 4

How much in reserves do I need for a jumbo loan?

Accepted Answer

Most lenders want 6-12 months of mortgage payments in liquid assets after closing. Conventional typically requires 2-6 months.

Question 5

Can I avoid jumbo financing with a larger down payment?

Accepted Answer

Absolutely. If you're buying an $850,000 home, putting down 20% drops your loan to $680,000, keeping you conventional.

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