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 is a jumbo loan.

Question 2

Are jumbo loan rates always higher than conventional?

Accepted Answer

Not always. Jumbo rates vary by lender and borrower profile. Rates vary by borrower profile and market conditions.

Question 3

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

Accepted Answer

Some jumbo lenders allow 10% down. You'll need strong credit and reserves to qualify at that down payment level.

Question 4

What credit score do I need for a conventional loan?

Accepted Answer

Most conventional lenders require a 620 minimum. Higher scores get better rates and easier approval.

Question 5

How many months of reserves do jumbo lenders require?

Accepted Answer

Jumbo lenders typically want 12 months of reserves. Some go higher depending on loan size and credit profile.

Question 6

Can SRK CAPITAL help me compare both loan types?

Accepted Answer

Yes. SRK CAPITAL shops conventional and jumbo programs across 200+ wholesale lenders to find your best fit.

Conventional vs Jumbo Loans in Rancho Cucamonga