Question 1

What's the minimum down payment for a jumbo loan in San Anselmo?

Accepted Answer

Most jumbo lenders want 10-20% down. Some go to 10% with strong credit and reserves, but 20% avoids mortgage insurance entirely.

Question 2

Can I get a jumbo loan if I'm self-employed?

Accepted Answer

Yes, but standard jumbo loans use tax return income. If your net income looks low on paper, a bank statement program may be the better path.

Question 3

Do jumbo loans take longer to close than conforming loans?

Accepted Answer

Usually yes. Underwriting is more manual and reserves take time to verify. Budget 30-45 days and have documents ready upfront.

Question 4

Are jumbo rates always higher than conforming rates?

Accepted Answer

Not always — at times jumbo rates run close to or below conforming. It depends on the lender and your borrower profile. Rates vary by borrower profile and market conditions.

Question 5

How much in reserves do jumbo lenders require?

Accepted Answer

Most want 6-12 months of mortgage payments in liquid assets after closing. Some high-balance programs require more.

Question 6

Can I use gift funds for my jumbo down payment?

Accepted Answer

Some lenders allow it, but many require that at least part of the down payment comes from your own funds. Ask before counting on gifts.

Jumbo Loans in San Anselmo: Finance Marin's High-Value Homes