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San Mateo's Bespoke mixed-use development at the former Talbot's site signals downtown investment. Foster City buyers in the $1.5M+ range are seeing solid demand for waterfront and mid-peninsula homes.
At 5.875% interest, a $1,249,125 jumbo loan carries a $7,389 monthly payment for principal and interest. That rate applies to 740 FICO, 80% LTV, 30-year fixed, locked 30 days.
5.875%
Interest Rate
$7,389
Monthly Payment (P&I)
740
Minimum FICO
20% minimum
Down Payment
$1,249,125
Loan Amount
30-45 days
Closing Timeline
Jumbo Loans in Foster City
Jumbo loans require 20% down minimum and a 740 FICO floor. San Mateo County's median household income of $156,000 supports homes in the $1.5M range with solid debt-to-income ratios.
Lenders want 6-12 months of reserves after closing. Your liquid assets, employment history, and tax returns carry more weight than on conforming loans.
Local decision guide
Use this guide to connect jumbo loans eligibility, lender expectations, and local market factors before comparing payment options in Foster City.
San Mateo's Bespoke mixed-use development at the former Talbot's site signals downtown investment. Foster City buyers in the $1.5M+ range are seeing solid demand for waterfront and mid-peninsula homes.
At 5.875% interest, a $1,249,125 jumbo loan carries a $7,389 monthly payment for principal and interest. That rate applies to 740 FICO, 80% LTV, 30-year fixed, locked 30 days.
Jumbo loans require 20% down minimum and a 740 FICO floor. San Mateo County's median household income of $156,000 supports homes in the $1.5M range with solid debt-to-income ratios.
Jumbo lending in California is tighter than conforming. Lenders scrutinize reserves, employment stability, and liquidity more closely because the loan amount exceeds agency backing.
Broker-based jumbo programs often move faster than retail banks. Expect 30-45 day closings with consistent underwriting and no surprise overlays at the final stages.
Jumbo makes sense in Foster City above $1,249,125 when you have 20% down and solid reserves. Below that threshold, a conforming loan at the same rate saves you underwriting friction.
The 5.875% jumbo rate justifies the tighter qualification if you're committed to staying in the home. Refinancing jumbo loans is harder, so lock in the rate only when you're certain of the purchase.
A conforming loan tops out at $1,249,125 in 2026. Above that, jumbo is your only path—there's no rate penalty for crossing the line, but underwriting tightens significantly.
Conventional loans at 80% LTV skip PMI entirely. Jumbo loans also skip PMI, so the real difference is speed and reserve requirements, not the monthly payment.
San Mateo school districts placed bond measures on the June ballot for facility upgrades. Families buying in Foster City are watching those outcomes closely because they signal long-term investment in the district.
The Bespoke development downtown brings mixed-use retail and affordable housing to San Mateo. That kind of urban infill supports property values for Foster City homeowners in the mid-peninsula corridor.
On a $1,249,125 loan at 5.875% APR, principal and interest run $7,389 per month. Add property taxes, insurance, and HOA fees for your total housing cost.
Yes. Jumbo lenders require 20% down minimum. That's $312,281 on a $1.56M purchase price.
No. Jumbo lenders require 740 FICO or higher. A 700 score disqualifies you from most jumbo programs.
Jumbo closings typically take 30-45 days with a broker. Retail banks often run 45-60 days due to additional compliance layers.
No. Jumbo loans at 80% LTV skip mortgage insurance entirely. The higher down payment and rate protect the lender instead.