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Jumbo Loans in San Juan Bautista
San Juan Bautista's older housing stock and larger rural parcels routinely push values beyond conforming limits. Properties near the Mission or with acreage typically need jumbo financing even when they don't look like luxury homes.
In San Benito County, 'jumbo' doesn't always mean mansion. A century-old Victorian with original features or a modest farmhouse on five acres often hits $900K+ and requires this loan type.
Expect minimum 700 FICO and 20% down for straightforward approval. Most lenders want 12 months reserves—enough cash to cover a year of mortgage payments after closing.
Debt-to-income stays under 43% for most jumbo lenders. Self-employed borrowers need two years tax returns showing stable or growing income, not declining revenue trends.
Regional banks serving San Benito County offer competitive jumbo rates but move slowly on rural appraisals. National portfolio lenders approve faster but charge slightly higher rates.
Few lenders enthusiastically finance properties with well water, septic, and aging structures. You need a broker who knows which of our 200+ lenders will actually close on a 1920s farmhouse.
I see buyers lose deals in San Juan Bautista by applying directly to their bank. That lender declines because of property age or acreage, and the seller moves on before we can find a willing lender.
Jumbo underwriting scrutinizes everything—late payments from three years ago matter. One client's approval hinged on explaining a $600 collection account from 2021. Get your credit file clean before shopping.
Conforming loans max out at $806,500 in San Benito County for 2025. Anything above that amount requires jumbo financing with stricter qualification standards.
Adjustable rate jumbos start 0.5% below fixed rates but adjust after five or seven years. Only makes sense if you'll sell or refinance before the first adjustment hits.
Appraisers struggle finding comps in San Juan Bautista because sales volume runs low. A jumbo appraisal can take three weeks when the appraiser pulls comps from Hollister or even Gilroy.
Properties with historical designations face extra scrutiny. Lenders want confirmation that any required restoration won't delay occupancy or exceed your budget before closing.
Jumbo loans start above $806,500 in San Benito County for 2025. That's the conforming limit set by FHFA for single-family homes.
Some lenders offer 10% down jumbo programs but require 740+ credit and higher reserves. Rate increases 0.25-0.5% compared to 20% down pricing.
Yes, but most lenders cap gifts at 50% of the down payment. You must contribute at least half from your own verified funds.
Expect 30-45 days from application to closing. Rural appraisals and limited comps add 7-10 days versus urban properties.
Age alone doesn't disqualify properties. Lenders focus on condition, foundation integrity, and updated systems like electrical and plumbing.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.