Question 1

What is the conforming loan limit for 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

Do jumbo loans have higher interest rates than conventional?

Accepted Answer

Not always. Jumbo rates depend on lender appetite and your credit profile. Rates vary by borrower profile and market conditions.

Question 3

What credit score do I need for a jumbo loan in Redlands?

Accepted Answer

Most jumbo lenders want 700 or higher. Some go to 680 with strong compensating factors like large reserves.

Question 4

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

Accepted Answer

Some lenders allow 10% down on jumbo loans. Expect stricter reserve requirements and tighter credit scrutiny at lower down payments.

Question 5

Which loan is easier to qualify for?

Accepted Answer

Conventional loans have broader lender options and softer requirements. Jumbo loans demand stronger overall financial profiles.

Question 6

Does SRK CAPITAL offer both conventional and jumbo loans?

Accepted Answer

Yes. SRK CAPITAL works with 200+ wholesale lenders and shops both loan types to find the best fit for your purchase.

Conventional vs Jumbo Loans in Redlands, CA