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Costa Mesa sits in one of California's priciest zip codes. Orange County home prices push most buyers well past conforming loan limits.
The FHFA conforming limit for 2026 caps out before many Costa Mesa listings even start. Jumbo financing isn't a luxury here — it's a necessity.
700+
Min Credit Score
10–20%
Down Payment
12 months
Cash Reserves
43%
DTI Maximum
30–45 days
Avg Close Time
Jumbo Loans in Costa Mesa
Jumbo lenders want strong credit. Most require a 700+ score, and the best rates go to borrowers at 740 or above.
Expect to show 12 months of reserves and a debt-to-income ratio under 43%. Some lenders push that to 38% on larger loan amounts.
Local decision guide
Use this guide to connect jumbo loans eligibility, lender expectations, and local market factors before comparing payment options in Costa Mesa.
Costa Mesa sits in one of California's priciest zip codes. Orange County home prices push most buyers well past conforming loan limits.
The FHFA conforming limit for 2026 caps out before many Costa Mesa listings even start. Jumbo financing isn't a luxury here — it's a necessity.
Jumbo lenders want strong credit. Most require a 700+ score, and the best rates go to borrowers at 740 or above.
Jumbo loans don't run through Fannie Mae or Freddie Mac. Each lender sets its own rules, rates, and overlays.
We work with 200+ wholesale lenders at SRK CAPITAL. That matters on jumbo deals — pricing swings are wide between lenders on these loan sizes.
Jumbo files live or die on documentation. Get your tax returns, W-2s, and asset statements ready before you shop.
Self-employed buyers in Costa Mesa should know some jumbo lenders accept bank statements instead of tax returns. That opens doors standard underwriting closes.
Conforming loans are cheaper to originate and easier to qualify for. But in Costa Mesa, they often don't cover what you're buying.
ARMs can make sense on jumbo loans — a lower rate on a $1.5M loan saves real money monthly. Rates vary by borrower profile and market conditions.
Costa Mesa borders Newport Beach and feeds into top-ranked schools. Those factors push prices up — and push more buyers into jumbo territory.
Lenders appraise jumbo properties conservatively. In a fast market, your appraisal can lag the purchase price. Have a plan if that gap opens up.
Any loan above the FHFA conforming limit requires jumbo financing. In Orange County, many standard purchases cross that threshold.
Some lenders allow 10% down on jumbo loans, but most require 20%. Credit score and reserves determine which options you qualify for.
Not always. Jumbo rates are competitive and sometimes match conforming rates. Rates vary by borrower profile and market conditions.
Most jumbo lenders don't use PMI. Instead, they require larger down payments or charge a higher rate for lower-down options.
Yes. Several lenders offer bank statement jumbo programs. You'll typically need 12-24 months of statements in place of tax returns.
Expect 30-45 days for a well-documented jumbo file. Complex income or high loan amounts can add time to underwriting.