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Auburn's market sits above the conforming limit at $1.375M for a single-family home. At 6.375%, a $1.1M jumbo loan carries a $6,863 monthly payment for principal and interest. That's the baseline for buyers stepping into the $1.3M+ range here.
Placer County's median household income of $114,678 supports these purchases through dual income and savings. Jumbo buyers typically bring 20% down and substantial reserves.
6.375%
Interest Rate
$6,863
Monthly P&I
740+
Min FICO
20% ($275K)
Down Payment
45-60 days
Close Timeline
Jumbo Loans in Auburn
Jumbo loans in Auburn start at 700 FICO and require 20% down minimum. Most lenders want 740+ FICO and six to twelve months of reserves in liquid accounts. The $1.1M loan on a $1.375M purchase is typical for this market segment.
Placer County's $114,678 median household income doesn't directly qualify buyers for jumbo mortgages—these loans rely on asset strength and proven income. Debt-to-income ratios run 36-43% depending on the lender.
Local decision guide
Use this guide to connect jumbo loans eligibility, lender expectations, and local market factors before comparing payment options in Auburn.
Auburn's market sits above the conforming limit at $1.375M for a single-family home. At 6.375%, a $1.1M jumbo loan carries a $6,863 monthly payment for principal and interest. That's the baseline for buyers stepping into the $1.3M+ range here.
Placer County's median household income of $114,678 supports these purchases through dual income and savings. Jumbo buyers typically bring 20% down and substantial reserves.
Jumbo loans in Auburn start at 700 FICO and require 20% down minimum. Most lenders want 740+ FICO and six to twelve months of reserves in liquid accounts. The $1.1M loan on a $1.375M purchase is typical for this market segment.
California's jumbo market is dominated by portfolio lenders and private mortgage banks. Retail banks rarely touch jumbos above $1.2M. Brokers access 8-12 jumbo-specific lenders with overlays on reserves, occupancy, and property type.
Underwriting takes 45-60 days for jumbo loans. Appraisals are stricter and require recent comparable sales. Most lenders won't touch investment properties or non-warrantable condos. Primary residence single-family homes close fastest.
Jumbo 30-year fixed makes sense in Auburn when you're buying $1.3M+ and want payment certainty. The 6.375% rate locks for 30 years. Conventional financing stops at $832,750, so jumbo is the only option here.
The tradeoff: jumbo requires 20% down and reserves. If you have 15% down and $50K liquid, a 5/1 ARM might start lower but resets after five years. For Auburn's $1.375M market, the fixed rate removes rate-risk over the long hold.
A 5/1 ARM typically starts 0.25-0.5% lower than 30-year fixed but adjusts after year five. In Auburn, that might save $200-300 monthly early on. The risk: rates could jump 2-3% at adjustment, adding $1,800+ to your payment.
Jumbo 30-year fixed removes that uncertainty. You pay slightly more upfront but never worry about rate resets. For Auburn buyers holding 10+ years, the fixed rate is the safer play.
Auburn sits in the Sierra Nevada foothills with access to outdoor recreation and a growing tech corridor. The city's proximity to Sacramento (45 minutes) and Lake Tahoe (90 minutes) attracts remote workers and second-home buyers.
Schools in Placer County rank above state average. Buyers in Auburn's higher price range often prioritize the Placer Union High School District. Strong schools and outdoor lifestyle drive long-term value appreciation in this market.
At 6.375%, the P&I payment is $6,863 monthly. That's on a $1.1M loan with 20% down ($275K) on a $1.375M purchase. Add taxes, insurance, and HOA if applicable—total housing cost runs $8,500-9,200 depending on property.
Yes. Jumbo lenders require 20% down minimum. That's $275,000 on a $1.375M purchase. Some portfolio lenders go 15% down but charge 0.5-0.75% higher rates and require 12+ months reserves.
45-60 days is standard. Appraisals take 2-3 weeks and underwriting is stricter than conventional. If you're selling another property, the timeline extends. Lock your rate early—jumbo locks are 30-45 days.
700 FICO is the floor. Most lenders prefer 740+. Anything below 700 triggers overlays—higher rates, more reserves, or both. In Auburn's $1.3M market, 740+ is standard.
No. Jumbo lenders in California won't finance investment properties. Primary residence only. Non-owner-occupied properties are off the table entirely.