Question 1

What credit score do I need for a jumbo loan in San Clemente?

Accepted Answer

Most jumbo lenders want 720 or higher. Some go down to 700, but rates will reflect it.

Question 2

How much do I need to put down on a jumbo loan?

Accepted Answer

10–20% is typical. Higher down payments usually get better pricing and fewer reserve requirements.

Question 3

Can self-employed buyers get jumbo loans in San Clemente?

Accepted Answer

Yes, but underwriting is strict. Expect two years of tax returns and a detailed income analysis.

Question 4

Are jumbo rates higher than conforming rates?

Accepted Answer

Usually, but not always. Rates vary by borrower profile and market conditions — sometimes jumbo rates compete closely with conforming.

Question 5

What's the maximum jumbo loan amount available here?

Accepted Answer

Many lenders go to $3M–$5M. Above that, super-jumbo programs apply with tighter guidelines.

Question 6

Do jumbo loans require mortgage insurance?

Accepted Answer

No PMI on most jumbo products. The tradeoff is stricter qualifying standards and higher reserves.

Jumbo Loans in San Clemente, CA