Question 1

What is the conforming loan limit in San Francisco County?

Accepted Answer

San Francisco County qualifies for high-cost area limits set by the FHFA. Any loan above that limit is a jumbo.

Question 2

Do jumbo loans always have higher rates than conventional?

Accepted Answer

Not always. Borrowers with strong credit and reserves sometimes get jumbo rates that match or beat conventional. Rates vary by borrower profile and market conditions.

Question 3

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

Accepted Answer

Some lenders allow 10-15% down on jumbo loans. Expect stricter credit and reserve requirements when going below 20%.

Question 4

Is PMI required on a jumbo loan?

Accepted Answer

Most jumbo programs don't charge PMI. But lenders compensate with tighter credit and reserve standards instead.

Question 5

Which loan is better for a San Francisco condo purchase?

Accepted Answer

It depends on the loan amount. Under the conforming limit, conventional is cleaner. Above it, you need jumbo — and condo warrantability matters for both.

Question 6

What credit score do I need for a jumbo loan?

Accepted Answer

Most jumbo lenders want 700 or above. Some programs go lower, but expect a rate premium and tighter conditions.

Conventional vs Jumbo Loans in San Francisco