Question 1

What is the jumbo loan limit in Orange County?

Accepted Answer

Any loan above the FHFA conforming limit requires jumbo financing. In Orange County, that threshold is crossed often given local price levels.

Question 2

Do I need 20% down for a jumbo loan in Aliso Viejo?

Accepted Answer

Most lenders require at least 10-20% down on jumbo loans. Some programs allow less, but expect stricter rate pricing with lower down payments.

Question 3

Are jumbo rates higher than conventional rates?

Accepted Answer

Generally yes, though the spread narrows with strong credit. Rates vary by borrower profile and market conditions.

Question 4

Can self-employed borrowers qualify for jumbo loans here?

Accepted Answer

Yes, but lenders require full documentation — typically two years of tax returns. Bank statement options exist but carry stricter terms.

Question 5

How do HOAs in Aliso Viejo affect jumbo approval?

Accepted Answer

Lenders review HOA financials on jumbo transactions. An underfunded reserve account or pending litigation can delay or block approval.

Question 6

Should I choose a fixed or ARM jumbo loan?

Accepted Answer

If you plan to stay long-term, a fixed rate gives payment certainty. An ARM makes sense if you expect to sell or refinance within 7-10 years.

Jumbo Loans in Aliso Viejo, CA