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Novato sits in southern Marin County, where home prices regularly blow past conforming limits. A jumbo loan finances anything above the FHFA conforming ceiling — that threshold matters here.
Marin County is one of the most expensive housing markets in California. Buyers here almost always need jumbo financing to compete.
700+
Min Credit Score
10–20%
Down Payment
43%
Max DTI
30–45 Days
Typical Close Time
12 Months
Cash Reserves
Jumbo Loans in Novato
Jumbo lenders set tougher standards than conventional programs. Most want a 700+ credit score, 12 months of reserves, and full income documentation.
Debt-to-income ratios matter more here. Most jumbo lenders cap DTI at 43%, and some go lower. Your income has to clearly support the payment.
Local decision guide
Use this guide to connect jumbo loans eligibility, lender expectations, and local market factors before comparing payment options in Novato.
Novato sits in southern Marin County, where home prices regularly blow past conforming limits. A jumbo loan finances anything above the FHFA conforming ceiling — that threshold matters here.
Marin County is one of the most expensive housing markets in California. Buyers here almost always need jumbo financing to compete.
Jumbo lenders set tougher standards than conventional programs. Most want a 700+ credit score, 12 months of reserves, and full income documentation.
Not every lender offers jumbo products. Big retail banks have them, but their pricing isn't always competitive. Wholesale lenders often beat them on rate.
At SRK CAPITAL, we shop jumbo loans across 200+ wholesale lenders. That reach matters when you're financing a $1.5M property and a quarter-point costs real money.
Jumbo underwriting is manual — a real person reviews your file. Clean tax returns and consistent income make a big difference. Gaps or write-offs get scrutinized hard.
Self-employed buyers in Marin face extra hurdles. Aggressive depreciation or business losses on returns can sink an otherwise strong file. Talk to a broker before you make an offer.
If your loan amount falls near the conforming limit, a conventional loan may cost less. Conforming loans have tighter rate competition and lower reserve requirements.
An ARM can make a jumbo loan more affordable short-term. A 7/1 or 10/1 ARM often prices lower than a 30-year fixed — worth considering if you plan to move or refinance. Rates vary by borrower profile and market conditions.
Novato has a range of neighborhoods — from Hamilton to downtown. Property types vary from single-family homes to newer construction. Jumbo guidelines on condos and multi-unit properties differ from standard single-family.
Marin County's limited inventory means deals move fast. A solid pre-approval letter from a credible lender can make or break your offer. Sellers here expect buyers who are financing-ready.
It changes annually based on FHFA conforming limits. Any loan above that ceiling is jumbo — in high-cost counties like Marin, that limit is higher than the national baseline.
Most jumbo lenders want 10-20% down. Some programs allow less with strong credit and reserves, but those are harder to find.
Yes, but your tax returns need to show consistent income. Heavy write-offs that reduce net income can limit what you qualify for.
Often, but not always. The spread between jumbo and conforming rates shifts with market conditions. Rates vary by borrower profile and market conditions.
Manual underwriting adds time. Budget 30-45 days and have your documents ready at application to avoid delays.
Yes. A 7/1 or 10/1 ARM is a common choice for jumbo borrowers. It typically carries a lower initial rate than a 30-year fixed.