Question 1

What is the conforming loan limit in Marin County?

Accepted Answer

Marin County qualifies for high-cost conforming limits set by the FHFA. Any loan above that limit becomes a jumbo loan.

Question 2

Are jumbo rates higher than conventional rates?

Accepted Answer

Not always. Jumbo rates depend on the lender and your profile. Strong credit and reserves can get you a competitive jumbo rate. Rates vary by borrower profile and market conditions.

Question 3

How much do I need for a down payment on a jumbo loan?

Accepted Answer

Most jumbo lenders want 10-20% down. Some programs allow less, but expect stricter reserve and credit requirements.

Question 4

Can I use a conventional loan to buy in San Anselmo?

Accepted Answer

Yes, if your loan amount stays under the conforming limit. Many San Anselmo sales exceed that threshold, making jumbo the only option.

Question 5

What credit score do I need for a jumbo loan?

Accepted Answer

Most jumbo lenders require 700 or higher. Some go to 680, but you'll see better pricing with a score above 740.

Question 6

How many months of reserves do jumbo lenders require?

Accepted Answer

Typically 6-12 months of mortgage payments in liquid assets. Some lenders require more for larger loan amounts.

Conventional vs Jumbo Loans in San Anselmo, CA