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Jumbo Loans in Tiburon
Tiburon's median home price sits well above conforming loan limits. Most buyers here need jumbo financing.
Waterfront properties and hillside estates routinely exceed $2-3 million. Standard conforming loans cap at $806,500 in 2024.
Lenders price jumbo loans differently in Marin than inland markets. Your profile matters more than the property.
Rate spreads between conforming and jumbo loans have compressed. Sometimes jumbo rates run lower than conforming.
You need 700+ credit for competitive jumbo rates. Most lenders want 720 to hit tier-one pricing.
Expect 10-20% down depending on loan size. $2 million loans typically need 15% minimum.
Debt-to-income ratios max at 43% with most jumbo lenders. Some portfolio lenders go to 50% with strong reserves.
Cash reserves matter here. Lenders want 12-18 months of mortgage payments sitting in accounts post-closing.
Big banks dominate Tiburon jumbo lending. They hold these loans in portfolio rather than selling them.
Portfolio lenders offer flexibility conforming loans lack. Income documentation and property types get more leeway.
Credit unions in Marin write competitive jumbo loans for members. Rates sometimes beat big banks by 0.25%.
We shop 200+ wholesale lenders including portfolio shops. That access matters when properties have unique features.
Tiburon appraisals take longer than peninsula markets. Limited waterfront comps slow the process.
Self-employed borrowers do better with jumbo than conforming here. Lenders focus on assets over stated income ratios.
ARM products make sense for Tiburon buyers trading up within 7 years. You get lower rates without long-term rate risk.
High earners with stock comp should use portfolio lenders. They count RSUs and options more favorably than agency guidelines.
Conforming loans stop at $806,500. Anything above needs jumbo or piggyback structure.
Interest-only jumbos work for buyers expecting income bumps. You pay less monthly while building equity through appreciation.
Adjustable rate jumbos price 0.50-0.75% below fixed rates. Makes sense if you'll sell before the first adjustment.
Some buyers use conforming first mortgages with HELOC seconds. This avoids jumbo underwriting but costs more long-term.
Tiburon's small inventory means bidding wars. Get pre-approved with full underwriting before you tour homes.
Waterfront properties need flood insurance and special windstorm coverage. Factor $3,000-5,000 annual premiums into DTI.
Marin County has high property taxes relative to purchase price. Budget 1.2% of home value annually.
Many Tiburon sellers prefer all-cash offers. Strong jumbo pre-approval with large down payment keeps you competitive.
You need 700 minimum to qualify. 720+ gets you into tier-one pricing where rates drop significantly.
Most lenders want 15-20% down for purchases above $2 million. Some portfolio lenders go to 10% with strong credit and reserves.
Not always anymore. Rate spreads have compressed and sometimes jumbo rates price lower than conforming.
Cash reserves are liquid funds remaining after closing. Jumbo lenders want 12-18 months of mortgage payments sitting in accounts.
Yes, often easier than conforming loans. Portfolio lenders focus on assets and bank statements rather than strict income calculations.
ARMs save 0.50-0.75% and make sense if you'll sell within 5-7 years. Fixed rates suit long-term holds.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.