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in Corte Madera, CA
Corte Madera sits in one of California's priciest counties. Most buyers here face a simple fork: conventional financing or jumbo territory.
The 2025 conforming limit is $806,500 for single-family homes in Marin County. Anything above that requires a jumbo loan with different rules.
Conventional loans follow Fannie Mae and Freddie Mac guidelines. You can put down as little as 3% and avoid mortgage insurance once you hit 20% equity.
These loans work well for condos, townhomes, and lower-priced single-family homes. Rates stay competitive because lenders can sell the loan to government-sponsored enterprises.
Credit requirements are straightforward: 620 minimum for most programs, 700+ for best pricing. Debt-to-income ratios max out around 50% with strong compensating factors.
Jumbo loans aren't backed by government agencies. Lenders hold the risk, so they set tighter standards and keep these mortgages in portfolio.
Expect 10-20% down minimum, depending on loan size and property type. Credit scores below 700 rarely get approved, and most lenders want 720+.
Cash reserves matter more here. Most jumbo lenders require 6-12 months of mortgage payments in liquid assets after closing. Documentation runs deeper than conventional deals.
Rates used to run higher on jumbo loans. That gap has closed in recent years, and jumbos sometimes price better for well-qualified borrowers with large down payments.
The real split is underwriting intensity. Conventional loans follow published guidelines with clear approval paths. Jumbo underwriters scrutinize income sources, asset liquidity, and debt obligations case-by-case.
Conventional appraisals focus on comparable sales. Jumbo appraisals add a second review layer and demand stronger comps in luxury price ranges where data thins out.
If your Corte Madera purchase stays under $806,500, stick with conventional. You get lower down payment options, easier approval, and the ability to refinance without portfolio lender restrictions.
Above that threshold, jumbo is your only option. Make sure you have strong credit, solid reserves, and clean income documentation before you shop.
Some buyers split the difference with an 80-10-10 structure: conventional first, second lien for 10%, and 10% down. This works when you want to avoid jumbo underwriting but lack 20% cash.
Loans above $806,500 are considered jumbo in Marin County for 2025. Anything at or below that amount qualifies as conforming conventional financing.
Not anymore. Jumbo rates often match or beat conventional for borrowers with 20%+ down and excellent credit. Portfolio lenders price competitively for low-risk profiles.
No. Jumbo lenders require 10-20% minimum down payment depending on loan amount and property type. Low down payment programs only exist for conventional loans.
Most lenders want 6-12 months of mortgage payments in liquid assets after closing. Higher loan amounts push reserve requirements toward the upper end of that range.
Jumbo refinances follow the same strict underwriting as purchases. You'll need to requalify with full documentation and meet current reserve requirements each time.