Question 1

What is the jumbo loan threshold in Orange County?

Accepted Answer

The 2024 FHFA conforming limit for Orange County is $1,149,825. Any loan above that amount is considered jumbo.

Question 2

How much down payment does a jumbo loan require?

Accepted Answer

Most jumbo lenders require 10-20% down. Some programs allow 10% with strong credit and reserves.

Question 3

Can self-employed borrowers get jumbo loans in Laguna Hills?

Accepted Answer

Yes, but underwriting is stricter. Lenders average two years of tax returns and scrutinize write-offs closely.

Question 4

Are jumbo loan rates higher than conforming rates?

Accepted Answer

Often, but not always. The gap varies by lender and borrower profile. Rates vary by borrower profile and market conditions.

Question 5

Do jumbo loans require private mortgage insurance?

Accepted Answer

No. Jumbo loans don't carry PMI regardless of down payment size. That's one clear advantage over conforming loans.

Question 6

How long does jumbo loan underwriting take in Orange County?

Accepted Answer

Plan for 30-45 days. Jumbo underwriting is more involved — appraisals and asset verification take extra time.

Jumbo Loans in Laguna Hills, CA