Question 1

What is the conforming loan limit in San Bernardino County?

Accepted Answer

The FHFA sets conforming limits annually. Any loan above that limit in San Bernardino County requires jumbo financing.

Question 2

Can I get a jumbo loan with less than 20% down?

Accepted Answer

Some lenders allow 10% down on jumbo loans. Expect stricter credit requirements and higher reserves when you go below 20%.

Question 3

Are jumbo rates always higher than conventional rates?

Accepted Answer

Not always, but the gap shifts with market conditions. Rates vary by borrower profile and market conditions.

Question 4

What credit score do I need for a conventional loan?

Accepted Answer

Most conventional lenders require at least a 620 credit score. Higher scores get better rates.

Question 5

Do jumbo loans take longer to close?

Accepted Answer

Yes, typically. More documentation and manual underwriting add time. Plan for a longer process than a conventional loan.

Question 6

Which loan works better for Apple Valley investment properties?

Accepted Answer

Conventional is the easier path for investment properties. Jumbo investment loans face the tightest reserve and credit standards.

Conventional vs Jumbo Loans in Apple Valley, CA