Question 1

What is the conforming loan limit in San Mateo County?

Accepted Answer

The 2026 limit is $1,149,825. Any loan above that is considered jumbo and follows different underwriting rules.

Question 2

Can I use a conventional loan for a $1.2 million Half Moon Bay home?

Accepted Answer

No. You'll need jumbo financing. Conventional loans stop at the conforming limit, even if you only borrow $1.15 million.

Question 3

Do jumbo loans always have higher rates than conventional?

Accepted Answer

Usually, but not always. Strong credit and large down payments can close the gap. Rates vary by borrower profile and market conditions.

Question 4

How much down payment do I need for a jumbo loan?

Accepted Answer

Most lenders require 10-20%. Higher down payments unlock better rates and easier approval.

Question 5

Can I avoid jumbo financing if I put more money down?

Accepted Answer

No. Jumbo classification depends on loan amount, not purchase price. If you borrow over $1.15 million, it's jumbo regardless of down payment.

Conventional vs Jumbo Loans in Half Moon Bay: Which Fits Your Coastal Property?