Question 1

What is the conforming loan limit in San Joaquin County?

Accepted Answer

The FHFA sets conforming limits annually. Any loan above that limit in San Joaquin County requires jumbo financing.

Question 2

Do jumbo loans always have higher rates than conventional?

Accepted Answer

Not always. Jumbo rates vary by lender and borrower profile. Rates vary by borrower profile and market conditions.

Question 3

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

Accepted Answer

Most jumbo lenders want 700 or higher. Some require 720+. Conventional is more forgiving, starting at 620.

Question 4

Can I put 10% down on a jumbo loan?

Accepted Answer

Some lenders allow 10% down on jumbo, but 20% is more common. Expect higher reserves and stricter scrutiny at lower down payments.

Question 5

Is a piggyback loan a real alternative to jumbo?

Accepted Answer

Yes — splitting into a first and second mortgage can keep both loans under conforming limits. It doesn't work for every deal, but it's worth modeling.

Question 6

Which loan closes faster in Lathrop?

Accepted Answer

Conventional typically closes faster. Jumbo manual underwriting adds time — budget a few extra days at minimum.

Conventional vs Jumbo Loans in Lathrop, CA