Question 1

What is the conforming loan limit for Orange County?

Accepted Answer

Orange County qualifies as a high-cost area. The FHFA sets a higher conforming limit here than in most U.S. counties.

Question 2

Do jumbo loans require a bigger down payment?

Accepted Answer

Most jumbo lenders want 10–20% down. Some require more depending on the loan size and your credit profile.

Question 3

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

Accepted Answer

Some lenders allow it, but most want 700 or higher. A lower score will narrow your options and likely raise your rate.

Question 4

Are jumbo rates always higher than conventional rates?

Accepted Answer

Not always. The gap has tightened. Your rate depends heavily on credit score, reserves, and loan size. Rates vary by borrower profile and market conditions.

Question 5

What counts as reserves for a jumbo loan?

Accepted Answer

Reserves are liquid assets — checking, savings, or investment accounts. Lenders want to see you can cover 12 months of mortgage payments.

Question 6

Which loan is faster to close?

Accepted Answer

Conventional loans typically close faster. Jumbo loans involve more documentation and lender-specific review, which adds time.

Conventional vs Jumbo Loans in Aliso Viejo