Question 1

What is the jumbo loan threshold in Merced County?

Accepted Answer

The FHFA sets conforming limits annually. Any loan above that limit in Merced County is classified as jumbo. Check the current year's limit before assuming your loan size.

Question 2

Can I get a jumbo loan with a 680 credit score?

Accepted Answer

Some lenders go down to 680, but expect a higher rate and stricter reserve requirements. Most competitive jumbo programs want 700 or above.

Question 3

How much do I need in reserves for a jumbo loan?

Accepted Answer

Most jumbo lenders require 12 months of mortgage payments held in liquid assets. Some go higher on larger loan amounts.

Question 4

Are jumbo rates always higher than conforming rates?

Accepted Answer

Not always. Jumbo rates sometimes drop below conforming on well-qualified borrowers. Rates vary by borrower profile and market conditions.

Question 5

Do jumbo loans work on rural or agricultural properties in Livingston?

Accepted Answer

They can, but lender appetite varies. Agricultural land components complicate appraisals and may limit which lenders will approve the deal.

Question 6

What down payment does a jumbo loan require?

Accepted Answer

Most jumbo lenders want 20% down. Some allow 10-15% down with strong credit and reserves, but options narrow quickly below 20%.

Jumbo Loans in Livingston, CA — When You Need More Than Conforming