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Jumbo Loans in San Diego
San Diego real estate pushes past conforming limits fast. Coastal properties, La Jolla estates, and even updated homes in Carmel Valley regularly need jumbo financing.
The 2024 conforming limit sits at $766,550 for most of the county. Anything above that triggers jumbo underwriting—stricter standards, but flexible structures for qualified borrowers.
We see jumbo volume spike in Del Mar, Point Loma, and Coronado. But plenty of North County and East County buyers hit jumbo territory when upgrading or buying new construction.
Jumbo lenders want 700+ credit, though 720+ gets better pricing. Debt-to-income typically caps at 43%, sometimes 45% with strong reserves.
Expect 10-20% down. Some lenders offer 10% programs for borrowers with excellent credit and substantial liquid assets. Most require 6-12 months reserves post-close.
Income documentation mirrors conventional loans—W-2s, tax returns, bank statements. Self-employed borrowers need two years of returns showing stable or increasing income.
Not all lenders price jumbo loans the same. Portfolio lenders often beat agency pricing on loans $1-2M. Credit unions sometimes offer relationship discounts.
Our network includes 15+ jumbo-focused lenders. Some specialize in high-balance ARMs, others in interest-only structures for wealth management clients.
Pricing shifts weekly based on investor appetite. We shop your scenario across lenders because a 0.25% rate difference costs $40,000+ over seven years on a $2M loan.
Jumbo underwriting scrutinizes asset seasoning. That $200K deposit from selling stock? Lenders want a paper trail. Plan for extra documentation if you've moved money recently.
ARMs make sense for San Diego jumbo buyers who relocate frequently or plan to upgrade. The 7/1 ARM typically prices 0.50-0.75% below 30-year fixed on jumbo amounts.
Interest-only options work for high-income borrowers managing cash flow. Doctors, executives, and business owners use IO to preserve liquidity while building equity through appreciation.
Gift funds get complicated on jumbo loans. Most lenders cap gifts at 20% of down payment and require the rest from borrower's own funds.
Conventional loans cap at $766,550 in San Diego. If your target property sits at $800K, you face a choice: jumbo financing or a larger down payment to stay conforming.
Jumbo rates sometimes beat conventional when pricing gets competitive. But expect stricter underwriting—higher reserves, lower DTI limits, more documentation.
ARMs deserve consideration on jumbo amounts. The monthly savings on a $1.5M loan can exceed $600, and most San Diego buyers move or refinance within seven years anyway.
San Diego's coastal premium drives jumbo volume. A 2,000 sq ft home in Encinitas costs double what it does in Santee. Geography determines loan type here.
Property types matter for jumbo approval. Condos in high-rises face tighter loan-to-value limits than single-family homes. Lenders cap beach condos at 75-80% LTV.
HOA fees in coastal communities affect qualification. A $1,200 monthly HOA reduces buying power by $200K+ on jumbo loans with strict DTI limits.
Appraisals take longer in niche markets. La Jolla ocean-view properties or Rancho Santa Fe estates need specialized comps, adding 1-2 weeks to closing timelines.
Loans above $766,550 qualify as jumbo in San Diego County for 2024. This applies to single-family homes; limits differ for 2-4 unit properties.
Yes, but you'll need 720+ credit and substantial reserves. Most lenders require 12-24 months reserves for low-down jumbo loans.
Not always. Competitive jumbo pricing sometimes matches or beats conventional rates, especially on larger loan amounts with strong borrower profiles.
Expect 30-45 days for standard transactions. Luxury properties requiring specialized appraisals can add 1-2 weeks to the timeline.
Most lenders cap gift funds at 20% of the down payment on jumbo loans. The majority must come from the borrower's verified assets.
Minimum 700, but 720+ unlocks better rates and terms. Scores above 760 access the most competitive jumbo pricing.
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.