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Jumbo Loans in San Gabriel
San Gabriel sits in the heart of Los Angeles County, where many properties exceed the 2024 conforming loan limit of $766,550. Single-family homes in established neighborhoods regularly push past $1 million, requiring jumbo financing.
This city attracts buyers seeking spacious homes with access to top-rated schools and cultural amenities. The local market includes both historic properties and modern builds that command premium prices.
Expect lenders to require 680-700 minimum credit scores for jumbo loans. Most want to see 720+ to unlock competitive rates. Down payment starts at 10-20% depending on loan amount and property type.
You'll need strong reserves—typically 6-12 months of mortgage payments sitting in the bank after closing. Debt-to-income ratios max out around 43%, though some lenders stretch to 45% for exceptional borrowers with compensating factors.
Jumbo loans don't follow Fannie Mae or Freddie Mac rules. Each lender sets their own underwriting standards. This creates massive rate and requirement variation across the 200+ wholesale lenders we access.
Some portfolio lenders offer more flexible income documentation for self-employed borrowers. Others excel at financing investment properties or condos in mixed-use buildings. Shopping multiple lenders isn't optional—it's the only way to find your best fit.
Most San Gabriel buyers don't realize they're in jumbo territory until prequalification. They assume conventional financing will work, then discover their target price range requires different documentation and reserves.
Start gathering 24 months of bank statements and two years of tax returns before you house hunt. Self-employed borrowers should expect extra scrutiny on business financials. If you're buying in the $900K-$1.2M range, get reserves in order early—lenders will verify every dollar.
If your loan amount sits just above conforming limits, compare jumbo rates against a conforming first mortgage plus a second lien. Sometimes splitting the loan saves money, especially if jumbo rates spike.
Adjustable-rate jumbos often price 0.5-1% below fixed rates in the first 5-10 years. This works for buyers planning to sell or refinance before the adjustment period. Interest-only options exist but require pristine credit and substantial reserves.
San Gabriel's school districts drive property values and buyer competition. Homes in top-rated school boundaries command premiums that often require jumbo financing even for modest square footage.
The city's proximity to downtown Los Angeles and Asian cultural centers attracts affluent buyers with international income sources. Some lenders won't finance properties with commercial components on the ground floor—common in parts of San Gabriel—so vet the property type early.
Any loan above $766,550 is jumbo in Los Angeles County. Many San Gabriel homes exceed this, especially in top school areas.
Not always. Some lenders approve 10-15% down, but expect higher rates and stricter reserve requirements below 20%.
Yes, but you'll need two years of tax returns and strong business financials. Portfolio lenders offer more flexibility than banks.
Jumbo rates typically run 0.25-0.75% higher than conforming. Rate spreads vary by lender and borrower profile.
Minimum 680, but 720+ unlocks better rates and terms. Some lenders require 740 for loans above $2 million.
Yes, but lenders scrutinize HOA financials and owner-occupancy ratios. Some won't touch condos in buildings with ground-floor retail.
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.