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East Palo Alto sits in the heart of the Bay Area's job engine. Burlingame's 220 Park office tower just hit 100% occupancy with tenants like Confluent and Upstart — that kind of employment density supports home values here.
Jumbo loans start where conforming ends. At $1.25M+, you're financing homes that define East Palo Alto's market. The 80% LTV scenario shown here ($312K down) is standard for jumbo buyers.
6.375%
Interest Rate
$7,793
Monthly P&I
740
Min FICO
20%
Min Down
45-60 days
Closing Timeline
Jumbo Loans in East Palo Alto
Jumbo lenders want 740+ FICO and 20% down minimum. You're looking at $312K down on a $1.56M home — that's real money, but it's the entry point.
Lenders will ask for 6-12 months of reserves after closing. That means liquid funds sitting in the bank beyond your down payment. Debt-to-income caps at 43% for most jumbo programs.
Local decision guide
Use this guide to connect jumbo loans eligibility, lender expectations, and local market factors before comparing payment options in East Palo Alto.
East Palo Alto sits in the heart of the Bay Area's job engine. Burlingame's 220 Park office tower just hit 100% occupancy with tenants like Confluent and Upstart — that kind of employment density supports home values here.
Jumbo loans start where conforming ends. At $1.25M+, you're financing homes that define East Palo Alto's market. The 80% LTV scenario shown here ($312K down) is standard for jumbo buyers.
Jumbo lenders want 740+ FICO and 20% down minimum. You're looking at $312K down on a $1.56M home — that's real money, but it's the entry point.
Jumbo lending in California is a wholesale game. Retail banks rarely hold jumbo mortgages; they sell them to portfolio lenders or securitize them. That means your rate comes from a correspondent lender, not a local bank.
Underwriting takes 45-60 days for jumbo because the loan amount triggers extra scrutiny. Appraisals cost more ($800-1,200) and take longer.
Jumbo makes sense in East Palo Alto when you have the reserves and the income to support it. The $1.56M purchase price is real here — median homes sit in that range. At 6.375%, you're paying for access to the market, not a penalty.
Where jumbo doesn't work: if you're stretching to 95% LTV or carrying less than three months of reserves. Lenders will reject you or price you out. If your income is $100K and you're buying a $1.56M home, the math doesn't work no matter the rate.
Conventional loans max out at $1.25M (the conforming limit). Above that, you're in jumbo territory. Conventional rates run lower, but you can't use them on a $1.56M home.
If your home is $1.24M or less, conventional is simpler and faster. Underwriting closes in 30 days instead of 45-60. If your home is $1.56M, jumbo is your only path.
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At 6.375% on a $1.25M loan, principal and interest run $7,793 per month. That's on a 30-year fixed with 0.472 points ($5,897 upfront). Add property taxes, insurance, and HOA — total housing payment is typically $10,500-12,000 depending on the home.
Yes. Jumbo lenders require 20% down minimum. That's $312K on a $1.56M home. Some lenders go to 25% down for self-employed borrowers or those with weaker income documentation. Less than 20% and you're automatically declined.
Lenders want 6-12 months of reserves after closing. On a $7,793 payment, that's $47K-94K sitting in the bank beyond your down payment. Reserves prove you can handle the payment if income drops. Without them, you won't close.
Jumbo underwriting runs 45-60 days. Conventional closes in 30 days. The extra time is appraisal complexity, employment verification, and asset documentation. Plan for two months from application to funding.
Yes, if you have the down payment and reserves. East Palo Alto homes typically run $1.4M-1.8M. Conventional maxes at $1.25M, so jumbo is your only option. The rate premium (0.25-0.5% above conventional) is the cost of access to this market.