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in San Anselmo, CA
San Anselmo sits in one of California's priciest housing markets. Many homes here exceed the conforming loan limit of $806,500, pushing buyers into jumbo territory.
The right loan depends on your purchase price and financial profile. Conventional loans offer easier approval and lower reserves. Jumbo loans handle larger purchases but demand stronger finances.
Conventional loans work for purchases up to $806,500 in Marin County. You can put down as little as 3% with strong credit, though 20% avoids PMI.
These loans follow Fannie Mae and Freddie Mac guidelines. Approval focuses on stable income, reasonable debt ratios, and credit scores above 620. Reserve requirements are modest—usually two to six months.
Jumbo loans finance purchases above $806,500. Most San Anselmo homes fall into this category given local pricing.
Lenders set their own jumbo guidelines since these loans don't get sold to Fannie or Freddie. Expect tighter standards: 700+ credit scores, debt ratios below 43%, and six to twelve months of reserves. Down payments typically start at 10% but 20% gets better rates.
The loan limit draws the clearest line. Below $806,500, conventional loans offer more flexibility. Above that threshold, jumbo is your only option.
Jumbo loans demand more documentation and stronger finances. You'll need higher credit scores, lower debt ratios, and significantly more cash reserves. Rates can be competitive with conventional, but approval is harder.
If your purchase price stays under $806,500, conventional loans offer easier approval. You'll qualify with lower credit scores, smaller down payments, and fewer reserves.
Above $806,500, you need jumbo financing. Focus on building reserves and keeping your credit pristine. We shop jumbo rates across 200+ lenders to find programs that fit your situation. Some lenders go easier on reserves or accept lower down payments than others.
$806,500 for Marin County. Anything above requires jumbo financing regardless of the property.
Not always. Strong borrowers often get competitive jumbo rates. It depends on your credit, down payment, and reserves.
Yes, some lenders approve jumbo loans at 10% down. You'll need excellent credit and substantial reserves to qualify.
Most jumbo loans avoid PMI entirely. Lenders price the risk into the interest rate instead.
Most lenders want six to twelve months of mortgage payments in reserves. Higher loan amounts require more.