Question 1

What is the conforming loan limit in Placer County?

Accepted Answer

The FHFA sets conforming limits annually. Any loan above that threshold in Placer County requires jumbo financing.

Question 2

Are jumbo rates always higher than conventional rates?

Accepted Answer

Not always. Jumbo and conforming rates move independently. Rates vary by borrower profile and market conditions.

Question 3

How much do I need in reserves for a jumbo loan?

Accepted Answer

Most jumbo lenders want 12 months of payments in liquid reserves after closing. Some require more for larger loan amounts.

Question 4

Can I put less than 20% down on a jumbo loan?

Accepted Answer

Some lenders allow 10% down on jumbo loans with strong credit. Expect stricter scrutiny and higher rates at lower down payments.

Question 5

What credit score do I need for a conventional loan in Roseville?

Accepted Answer

The minimum is 620 for most conventional programs. You'll get the best pricing at 740 or above.

Question 6

Is a piggyback loan a good way to avoid jumbo?

Accepted Answer

It can work if you're close to the conforming limit. We run the numbers on both options before recommending one.

Conventional vs Jumbo Loans in Roseville, CA