Question 1

What is the conforming loan limit in Orange County?

Accepted Answer

The FHFA sets conforming limits annually. Any loan above that cap in Orange County is a jumbo loan requiring private lender approval.

Question 2

Can I get a jumbo loan with a 10% down payment?

Accepted Answer

Some lenders allow 10% down on jumbos, but 20% is far more common. Expect stricter credit and reserve requirements at lower down payments.

Question 3

Do jumbo loans take longer to close in Santa Ana?

Accepted Answer

Jumbo underwriting is more manual than conforming. Plan for 30-45 days. Complex income situations can add time.

Question 4

Are jumbo rates higher than conventional rates?

Accepted Answer

Not always. Jumbo rates sometimes sit below conventional rates depending on loan size and lender. Rates vary by borrower profile and market conditions.

Question 5

Is private mortgage insurance required on jumbo loans?

Accepted Answer

Most jumbo lenders don't offer PMI. Instead, they require larger down payments — typically 20% — to avoid added risk.

Question 6

Can self-employed borrowers qualify for a jumbo loan in Santa Ana?

Accepted Answer

Yes, but lender selection matters. Some jumbo lenders use bank statements instead of tax returns for self-employed borrowers.

Jumbo Loans in Santa Ana, CA — Big Purchase, Right Lender