Question 1

What's the conforming loan limit in Seaside?

Accepted Answer

$806,500 for a single-family home in Monterey County as of February 2026. Anything above that requires jumbo financing.

Question 2

Can I put 3% down on a jumbo loan?

Accepted Answer

No. Jumbo loans require at least 10% down, and most lenders price best at 20% or higher.

Question 3

Why are jumbo rates higher than conventional?

Accepted Answer

Lenders hold jumbo loans in portfolio instead of selling them to Fannie or Freddie. That extra risk typically adds 0.25-0.75% to the rate.

Question 4

Do I need better credit for a jumbo loan?

Accepted Answer

Yes. Most jumbo lenders want 700 minimum, and 720+ gets best pricing. Conventional approves borrowers at 620.

Question 5

Can I avoid jumbo by using two loans?

Accepted Answer

Sometimes. An 80-10-10 structure uses a conventional first at the limit plus a second lien, letting you borrow more without jumbo underwriting.

Question 6

How much in reserves do jumbo lenders require?

Accepted Answer

Typically 6 to 12 months of total mortgage payments in liquid assets after closing. Conventional has no hard reserve requirement.

Conventional vs Jumbo Loans in Seaside: When You Need to Go Beyond Conforming Limits