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in Colma, CA
Colma sits in one of California's priciest counties, where loan limits matter. Most buyers choose conventional loans, but properties above $832,750 require jumbo financing.
The Federal Reserve signals more rate cuts later in 2026, which could impact both loan types. Right now, rates hover near four-year lows, making it a solid time to compare your options.
Conventional loans follow Fannie Mae and Freddie Mac guidelines. You can put down as little as 3%, though 20% avoids PMI.
Credit requirements are straightforward: 620 minimum for most programs, 740+ for best pricing. Debt-to-income ratios cap at 50% in most cases.
These loans offer the lowest rates when you qualify. Lenders compete aggressively because the loans get sold to Fannie or Freddie.
Jumbo loans fund anything above $832,750 in San Mateo County. Lenders hold these loans instead of selling them, so underwriting gets stricter.
Expect to put down at least 10%, often 20%. Credit scores below 700 rarely get approved, and 740+ is standard for good rates.
Cash reserves matter here. Most lenders want 6 to 12 months of mortgage payments in the bank after closing.
Local decision guide
Use this comparison to weigh Conventional Loans and Jumbo Loans through local payment fit, eligibility, documentation, and timing before choosing a path in Colma.
Colma sits in one of California's priciest counties, where loan limits matter. Most buyers choose conventional loans, but properties above $832,750 require jumbo financing.
The Federal Reserve signals more rate cuts later in 2026, which could impact both loan types. Right now, rates hover near four-year lows, making it a solid time to compare your options.
Conventional loans follow Fannie Mae and Freddie Mac guidelines. You can put down as little as 3%, though 20% avoids PMI.
The loan limit draws the line. Under $832,750, conventional wins on flexibility and cost. Above that amount, jumbo is your only option.
Jumbo rates used to run higher, but that gap has narrowed. As of February 2026, the spread is often just 0.125% to 0.25% for strong borrowers.
Reserve requirements separate the two programs most. Conventional rarely asks for more than two months reserves. Jumbo lenders want proof you can weather a job loss.
If your purchase price stays under $832,750, stick with conventional. Lower down payments, easier approval, better rates.
Above that limit, jumbo is required. Plan for 20% down and clean financials. If you have the reserves and credit, jumbo rates compete well right now.
Some buyers split the difference with an 80-10-10 structure on borderline properties, but that only works if total financing stays conforming. Ask your broker to run both scenarios.
$832,750 as of 2026. San Mateo County qualifies as a high-cost area, raising the limit above the baseline $832,750.
No. If the purchase price exceeds $832,750, any loan amount makes it jumbo. Down payment size doesn't change the classification.
Not always. Strong borrowers see jumbo rates within 0.25% of conventional as of February 2026. Rates vary by borrower profile and market conditions.
Most lenders require 6 to 12 months of mortgage payments in liquid assets after closing. Conventional typically asks for just two months.
Yes, if the purchase price stays under $832,750 and the condo project meets Fannie or Freddie approval. Jumbo loans also finance condos.