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Colfax sits in the Sierra Nevada foothills of Placer County. Properties here can carry significant acreage, custom builds, and price tags that push past conforming limits.
When a purchase price exceeds the FHFA conforming loan limit, you need a jumbo loan. That means different rules, stricter underwriting, and lenders who specialize in larger balances.
700 (720+ preferred)
Min Credit Score
10–20% typical
Down Payment
12 months post-close
Reserves Required
Fixed or ARM
Rate Type
Order early — rural areas
Appraisal Timeline
Jumbo Loans in Colfax
Jumbo lenders want to see a credit score of 700 or higher. Some require 720 or better, especially on larger loan amounts.
Expect a debt-to-income ratio below 43%. You'll also need 12 months of reserves — liquid assets sitting in the bank after closing.
Local decision guide
Use this guide to connect jumbo loans eligibility, lender expectations, and local market factors before comparing payment options in Colfax.
Colfax sits in the Sierra Nevada foothills of Placer County. Properties here can carry significant acreage, custom builds, and price tags that push past conforming limits.
When a purchase price exceeds the FHFA conforming loan limit, you need a jumbo loan. That means different rules, stricter underwriting, and lenders who specialize in larger balances.
Jumbo lenders want to see a credit score of 700 or higher. Some require 720 or better, especially on larger loan amounts.
Not every lender does jumbo well. Big retail banks have rigid overlays. We work with 200+ wholesale lenders, including those who specialize in high-balance Sierra foothills properties.
Jumbo rates are priced individually. Two lenders can quote the same borrower very differently. Shopping matters more on jumbo than almost any other loan type.
Appraisal is the biggest wildcard on Colfax jumbo deals. Rural comps are sparse. A bad appraisal can kill a deal even when the borrower is rock solid.
Order the appraisal early. Use a lender who knows foothill markets and has approved appraisers familiar with Placer County rural properties.
If you're close to the conforming limit, a conforming loan beats jumbo every time. Lower rate, easier underwriting, and more lender options.
An ARM can make sense on jumbo if you plan to sell or refinance within 7 years. The rate discount versus a 30-year fixed can be meaningful on a large balance. Rates vary by borrower profile and market conditions.
Colfax properties often include significant land, outbuildings, or non-standard features. Jumbo lenders underwrite the collateral as closely as the borrower.
Well and septic, steep topography, and limited comparable sales are common here. Know your lender's property guidelines before you're in contract.
Any loan exceeding the FHFA conforming limit for Placer County requires jumbo financing. Check current limits before structuring your purchase price.
Some do, some don't. Acreage limits vary by lender — many cap at 10 acres. We match your property to lenders with the right guidelines.
Yes, but your options narrow. Most competitive jumbo pricing starts at 720. A lower score means fewer investors and higher rates.
Most jumbo programs require 10–20% down. Larger loan amounts or lower credit scores typically push that toward 20% or more.
Not always. Jumbo and conforming rates move independently. As of April 2026, the spread between them has been narrow. Rates vary by borrower profile and market conditions.
Yes, but lenders require two years of tax returns and full income documentation. Bank statement jumbo programs also exist for strong borrowers.