Question 1

What is the conforming loan limit in Colma?

Accepted Answer

$806,500 as of 2026. San Mateo County qualifies as a high-cost area, raising the limit above the baseline $766,550.

Question 2

Can I avoid jumbo with a bigger down payment?

Accepted Answer

No. If the purchase price exceeds $806,500, any loan amount makes it jumbo. Down payment size doesn't change the classification.

Question 3

Do jumbo loans have higher rates than conventional?

Accepted Answer

Not always. Strong borrowers see jumbo rates within 0.25% of conventional as of February 2026. Rates vary by borrower profile and market conditions.

Question 4

How much reserves do I need for a jumbo loan?

Accepted Answer

Most lenders require 6 to 12 months of mortgage payments in liquid assets after closing. Conventional typically asks for just two months.

Question 5

Can I use a conventional loan for a condo in Colma?

Accepted Answer

Yes, if the purchase price stays under $806,500 and the condo project meets Fannie or Freddie approval. Jumbo loans also finance condos.

Conventional vs Jumbo Loans in Colma: Which Fits Your San Mateo County Purchase?