Question 1

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

Accepted Answer

Most lenders require 700 minimum, but rates improve significantly at 740 and above. Scores below 700 limit your options to a handful of portfolio lenders with premium pricing.

Question 2

How much can I borrow with a jumbo loan?

Accepted Answer

Most wholesale lenders cap at $4-5 million for primary residences. Loans above that threshold require private banks or hard money sources with different underwriting.

Question 3

Do jumbo loans have higher interest rates than conforming loans?

Accepted Answer

Rates vary by borrower profile and market conditions. Jumbo rates often run 25-50 bps above conforming, though strong credit and low LTV can narrow or eliminate that spread.

Question 4

Can I get a jumbo loan with 10% down in San Francisco?

Accepted Answer

Yes, though expect rate premiums and stricter reserve requirements. Most lenders want to see 12-18 months reserves on top of your down payment at 90% LTV.

Question 5

How long does jumbo loan approval take?

Accepted Answer

Expect 30-45 days with clean documentation. Complex income or multiple properties can push timelines to 60 days if additional underwriting reviews are needed.

Question 6

What counts as reserves for jumbo loan qualification?

Accepted Answer

Liquid assets like checking, savings, and taxable investment accounts count fully. Retirement accounts typically count at 60-70% of vested balances depending on lender.

Jumbo Loans in San Francisco: Financing Above Conforming Limits