Question 1

What is the minimum credit score for a jumbo loan in Monterey?

Accepted Answer

Most jumbo lenders require a 700 minimum. Some programs for larger loan amounts push that to 720 or higher.

Question 2

How much do I need to put down on a jumbo in Monterey?

Accepted Answer

Plan on 20% down. Some lenders allow 10-15% but charge higher rates and require strong reserves.

Question 3

Can I get a jumbo loan for a second home in Monterey?

Accepted Answer

Yes, but guidelines tighten. Expect stricter reserve requirements and a higher rate than a primary residence jumbo.

Question 4

Are jumbo loan rates higher than conforming rates?

Accepted Answer

Usually yes, but not always. Rates vary by borrower profile and market conditions. Shopping lenders makes a real difference.

Question 5

How long does jumbo loan approval take in California?

Accepted Answer

Budget 30-45 days. Jumbo underwriting is manual and thorough — appraisals alone can add time on coastal properties.

Question 6

Does SRK CAPITAL offer jumbo loans for Monterey buyers?

Accepted Answer

Yes. We access 200+ wholesale lenders and shop jumbo programs to match your specific property and borrower profile.

Jumbo Loans in Monterey, CA: Finance What Conforming Can't