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

Are jumbo rates always higher than conventional rates?

Accepted Answer

Generally yes. Jumbo lenders carry more risk. Rates vary by borrower profile and market conditions.

Question 3

Can I buy a vacation home in Big Bear Lake with a conventional loan?

Accepted Answer

Yes, if the purchase price stays under the conforming limit. Second-home conventional loans have slightly stricter guidelines than primary residence loans.

Question 4

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

Accepted Answer

Most jumbo lenders want 12 months of mortgage payments in reserves. Some require more for investment or vacation properties.

Question 5

What credit score do I need for a jumbo loan?

Accepted Answer

Plan on 700 minimum. Some lenders want 720 or higher, especially for larger loan amounts.

Question 6

Does SRK CAPITAL offer both conventional and jumbo loans?

Accepted Answer

Yes. SRK CAPITAL works with 200+ wholesale lenders and shops both programs to find the right fit for your purchase price and profile.

Conventional vs Jumbo Loans in Big Bear Lake