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San Clemente is one of Orange County's pricier coastal markets. Most homes here clear the conforming loan limit fast.
Jumbo loans — mortgages above the FHFA conforming limit — are the standard tool for financing here. This isn't a niche product in San Clemente. It's the norm.
720+ typical
Min Credit Score
12 months
Reserves Required
43%
Max DTI Ratio
10–20%
Min Down Payment
Up to $5M+
Loan Size Range
Jumbo Loans in San Clemente
Jumbo lenders set their own rules. Most want a 700+ credit score, often 720 or higher for the best rates.
Expect to show 12 months of reserves — liquid assets covering 12 mortgage payments. Debt-to-income ratios tighten too, usually capped at 43%.
Local decision guide
Use this guide to connect jumbo loans eligibility, lender expectations, and local market factors before comparing payment options in San Clemente.
San Clemente is one of Orange County's pricier coastal markets. Most homes here clear the conforming loan limit fast.
Jumbo loans — mortgages above the FHFA conforming limit — are the standard tool for financing here. This isn't a niche product in San Clemente. It's the norm.
Jumbo lenders set their own rules. Most want a 700+ credit score, often 720 or higher for the best rates.
Big retail banks dominate jumbo advertising. But their pricing isn't always the sharpest, especially for loan amounts over $2M.
Wholesale jumbo lenders — the ones we access — often price more aggressively. Rates vary by borrower profile and market conditions.
Jumbo underwriting is manual. Every lender reads the file differently. One lender's decline is another's approval.
We've seen deals fall apart at big banks that closed fine through wholesale. The difference is usually how self-employment income or rental income gets calculated.
If your loan amount falls close to the conforming limit, a conforming loan is cheaper — lower rate, less reserve requirement.
ARMs are worth a real look on jumbo. A 7/1 or 10/1 ARM can cut your rate meaningfully if you don't plan to stay 30 years. Rates vary by borrower profile and market conditions.
San Clemente's coastal geography drives prices up fast. Bluff-front and ocean-view homes can reach $3M–$5M+ — well into super-jumbo territory.
Appraisals can be tricky here. Comp selection matters on unique properties. A weak appraisal can kill a deal even with a strong buyer.
Most jumbo lenders want 720 or higher. Some go down to 700, but rates will reflect it.
10–20% is typical. Higher down payments usually get better pricing and fewer reserve requirements.
Yes, but underwriting is strict. Expect two years of tax returns and a detailed income analysis.
Usually, but not always. Rates vary by borrower profile and market conditions — sometimes jumbo rates compete closely with conforming.
Many lenders go to $3M–$5M. Above that, super-jumbo programs apply with tighter guidelines.
No PMI on most jumbo products. The tradeoff is stricter qualifying standards and higher reserves.