Question 1

What is the 2026 conforming loan limit in San Mateo County?

Accepted Answer

The limit is $1,249,125 for single-family homes. Anything above requires jumbo financing regardless of loan type.

Question 2

Can I avoid PMI with a conventional loan?

Accepted Answer

Yes, put down 20% or more. Some lenders offer lender-paid PMI with a slightly higher rate instead.

Question 3

Do jumbo loans have prepayment penalties?

Accepted Answer

Most jumbo loans at SRK CAPITAL have no prepayment penalty. Always confirm terms before locking your rate.

Question 4

Which loan type has stricter income requirements?

Accepted Answer

Jumbo loans scrutinize income more heavily. Expect to document stability, verify bonuses, and show consistent earnings for 2+ years.

Question 5

Can I use gift funds for a jumbo down payment?

Accepted Answer

Yes, but most lenders cap gifts at 10-20% of the down payment. You'll need significant personal funds as well.

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