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San Diego County prices push many buyers past conforming limits fast. In San Marcos, that threshold hits sooner than most people expect.
Jumbo loans cover mortgages above the FHFA conforming limit. If your loan exceeds that cap, you need a jumbo — no exceptions.
700–720+
Min Credit Score
Jumbo Starts Here
Above Conforming Limit
12 Months
Cash Reserves Needed
43%
Max DTI (Typical)
30–45 Days
Avg Approval Timeline
Jumbo Loans in San Marcos
Most jumbo lenders want a 700+ credit score. Some go lower, but your rate takes a real hit below 720.
Expect 12 months of reserves, full income docs, and a max debt-to-income ratio around 43%. Lenders price risk tightly on these loans.
Local decision guide
Use this guide to connect jumbo loans eligibility, lender expectations, and local market factors before comparing payment options in San Marcos.
San Diego County prices push many buyers past conforming limits fast. In San Marcos, that threshold hits sooner than most people expect.
Jumbo loans cover mortgages above the FHFA conforming limit. If your loan exceeds that cap, you need a jumbo — no exceptions.
Most jumbo lenders want a 700+ credit score. Some go lower, but your rate takes a real hit below 720.
Banks and credit unions dominate jumbo lending. But their in-house guidelines vary wildly — one lender's decline is another's approval.
We shop jumbo paper across 200+ wholesale lenders. That reach matters when you're above conforming and every guideline difference counts.
Jumbo borrowers often assume their bank will give the best deal. They're usually wrong. Retail banks pad margins on jumbo loans.
Self-employed buyers hit the most friction here. Two years of tax returns, P&L statements, and CPA letters — plan for it early.
A conforming loan stays within FHFA limits and gets sold to Fannie or Freddie. Jumbos don't — lenders hold them and price them differently.
ARMs are popular on jumbo loans. A 7/1 ARM can cut your rate significantly if you're not planning a 30-year hold. Rates vary by borrower profile and market conditions.
San Marcos sits in one of San Diego's fastest-growing corridors. New construction and master-planned communities push prices into jumbo range regularly.
Cal State San Marcos and proximity to the tech corridor drive demand from high-income professionals. That borrower profile fits jumbo guidelines well.
Any loan above the FHFA conforming limit for San Diego County requires jumbo financing. That limit adjusts annually — confirm the current cap before you price a home.
Most jumbo lenders want 10-20% down. Some allow less with strong credit and reserves, but expect tighter pricing at lower down payments.
Yes, but documentation requirements are heavy. Plan on two years of tax returns, a CPA letter, and a detailed P&L statement.
Not always. Jumbo and conforming rates trade places depending on market conditions. Rates vary by borrower profile and market conditions.
No. Jumbo loans don't require PMI regardless of down payment size. That's one real advantage over conforming loans with smaller down payments.
Expect 30-45 days. Underwriting is more intensive and second appraisals are common on higher-value San Marcos properties.