Question 1

What is the jumbo loan limit in Orange County?

Accepted Answer

Jumbo loans start above the FHFA conforming loan limit, which adjusts annually. Any loan above that threshold in Orange County is considered jumbo.

Question 2

Can I get a jumbo loan with 10% down in Westminster?

Accepted Answer

Yes, some lenders allow 10% down on jumbo loans. You'll typically need a strong credit score and significant reserves to qualify.

Question 3

Do jumbo loans have higher interest rates?

Accepted Answer

Generally yes, though the gap varies by lender. Rates vary by borrower profile and market conditions — shopping lenders makes a real difference.

Question 4

Are jumbo loans harder to qualify for?

Accepted Answer

Yes. Lenders set stricter standards because jumbo loans aren't backed by Fannie Mae or Freddie Mac. Credit, income, and reserves all get more scrutiny.

Question 5

Can self-employed buyers get jumbo loans in Westminster?

Accepted Answer

Yes, but documentation requirements are heavier. Most lenders want two years of tax returns, a P&L statement, and sometimes a CPA letter.

Question 6

Is a jumbo ARM a good idea for Orange County buyers?

Accepted Answer

It depends on your timeline. A 7/1 or 10/1 ARM can lower your starting rate significantly if you don't plan to hold the loan long-term.

Jumbo Loans in Westminster, CA — Big Purchases, Smart Financing