Question 1

What credit score do I need for a jumbo loan in Carmel?

Accepted Answer

Most jumbo lenders require 700 minimum. To access the best rates in this price range, aim for 720 or above.

Question 2

How much down payment is required on a Carmel jumbo loan?

Accepted Answer

Most lenders want 20% down on jumbo loans. Some allow 10% down with strong credit and reserves.

Question 3

Can I get a jumbo loan with self-employment income in Carmel?

Accepted Answer

Yes, but expect 2 years of tax returns and business financials. Some lenders add a 15–20% income haircut on self-employed borrowers.

Question 4

Are jumbo rates higher than conforming rates?

Accepted Answer

Not always. Jumbo and conforming rates are competitive. Rates vary by borrower profile and market conditions.

Question 5

Does SRK CAPITAL handle jumbo loans above $3 million in Carmel?

Accepted Answer

Yes. We work with portfolio and private lenders who handle large-balance jumbo loans for qualified borrowers.

Question 6

Why is appraisal so important on a Carmel jumbo purchase?

Accepted Answer

Carmel's unique homes have limited comps. A low appraisal creates a loan gap you'll need to cover with cash.

Jumbo Loans in Carmel-By-The-Sea