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Jumbo Loans in San Dimas
San Dimas sits in the foothills where home values frequently exceed conforming loan limits. The city's proximity to quality schools and established neighborhoods creates demand for jumbo financing.
Properties in areas like Via Verde Country Club and north of the 210 freeway routinely require loans above conventional limits. Jumbo programs handle these higher-value transactions.
Most jumbo lenders want 700+ credit scores and 20% down minimum. Self-employed borrowers face stricter documentation—expect two years of tax returns and bank statements.
Debt-to-income ratios typically cap at 43%, though some lenders allow 45% with compensating factors. Reserve requirements run 6-12 months of mortgage payments in liquid assets.
Rate spreads between lenders on jumbo loans run wider than conforming products. Shopping across our 200+ wholesale sources typically saves 0.25-0.50% in rate or thousands in costs.
Some lenders specialize in high-income W-2 borrowers while others handle complex self-employed income. Portfolio lenders offer flexibility that agency guidelines don't allow.
San Dimas jumbo buyers underestimate reserve requirements. Lenders want to see 6-12 months of payments sitting liquid after closing—not tied up in retirement accounts or other real estate.
ARM products make sense for buyers planning to move within 7-10 years. A 7/1 ARM typically prices 0.375-0.625% below the 30-year fixed on jumbo amounts. Rates vary by borrower profile and market conditions.
Conventional conforming loans cap at $806,500 in Los Angeles County. Above that threshold, you enter jumbo territory where underwriting standards tighten and rate pricing changes.
Interest-only options exist in the jumbo space but require exceptional credit and reserves. ARM structures offer lower starting rates than fixed jumbos for buyers with shorter time horizons.
San Dimas appraisals require comps from similar foothill communities. Appraisers sometimes pull from Glendora or La Verne when local sales are limited, which can affect valuation.
Properties with significant land or custom features need jumbo programs that allow flexibility. Some lenders cap lot sizes or require additional scrutiny for homes with income-producing elements like guest houses.
Most lenders require 700 minimum, with 720+ getting best pricing. Scores below 700 face rate penalties or need larger down payments.
Expect 20% minimum, though 25-30% down improves pricing and approval odds. Some lenders allow 10-15% down with perfect credit and heavy reserves.
Not always. Jumbo rates sometimes match or beat conforming rates depending on market conditions. Rate spreads fluctuate based on investor appetite.
Yes, but expect 25-30% down and higher reserves. Lenders treat second homes more conservatively than primary residences on jumbo amounts.
Plan for 6-12 months of mortgage payments in liquid assets after closing. Higher loan amounts or weaker credit require reserves at the upper end.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.