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San Rafael sits in one of California's most expensive counties. Most homes here blow past conforming loan limits without blinking.
Jumbo loans — mortgages above the FHFA conforming limit — are the standard tool for buying in Marin. This isn't a niche product here. It's the norm.
700+ (720 preferred)
Min Credit Score
10–20%
Typical Down Payment
12 months
Reserves Required
43% typical
Max DTI
30–45 days
Est. Close Time
Jumbo Loans in San Rafael
Jumbo lenders want strong borrowers. Expect a minimum 700 credit score, though 720+ gets you better pricing.
Most lenders require 12 months of reserves — cash left after closing. Debt-to-income ratios are tighter too, typically under 43%.
Not every lender does jumbo well. Banks get conservative fast, and retail loan officers often have one or two programs at most.
As a broker with 200+ wholesale lenders, we shop jumbo across dozens of investors. That matters when your loan is $1.5M and rates vary by lender.
Jumbo underwriting is manual. Every lender has its own guidelines. One says 80% LTV max, another goes to 90% with no MI.
Self-employed buyers face extra scrutiny on jumbo loans. Two years of tax returns, CPA letters, and a clean business bank history are table stakes.
ARMs are common on jumbo loans. A 7/1 or 10/1 ARM can price significantly lower than a 30-year fixed. Rates vary by borrower profile and market conditions.
Interest-only jumbo loans exist too. They lower monthly payments but don't build equity. That tradeoff only makes sense for certain buyers.
Marin County appraisals can be tricky. Comps are thin in some neighborhoods. A bad appraisal can kill a jumbo deal fast.
San Rafael has a mix of property types — older Victorians, hillside retreats, newer construction. Lenders treat each differently on jumbo.
Jumbo begins where conforming ends. In Marin, any loan above the FHFA conforming limit requires jumbo financing.
Yes, some lenders go to 90% LTV on jumbo. Expect tighter credit and reserve requirements at that level.
Manual underwriting adds time. Budget 30-45 days and have your documents ready before you submit.
Not always. Jumbo and conforming rates have flipped in recent years. Rates vary by borrower profile and market conditions.
Yes, but underwriting is strict. Two years of tax returns and solid business documentation are required.
It depends on your timeline. If you plan to sell or refinance within 7-10 years, an ARM can save real money.