Question 1

What's the conforming loan limit in Menlo Park?

Accepted Answer

$806,500 for a single-family home in San Mateo County. Anything above that requires a jumbo loan or creative financing.

Question 2

Can I avoid jumbo rates on a $1.2M Menlo Park home?

Accepted Answer

Yes, with an 80-10-10 structure: $806,500 first lien, $113,500 second lien, $280K down. You'll pay a higher rate on the second, but the blended cost often beats a single jumbo.

Question 3

Do jumbo loans require better credit than conventional?

Accepted Answer

Conventional approves at 620 credit; jumbo typically wants 700+. Some portfolio lenders go to 680, but rates and reserves increase.

Question 4

How much bigger is the down payment for jumbo loans?

Accepted Answer

Jumbo usually requires 20% vs 3-5% for conventional. On a $1.5M home, that's $300K down for jumbo compared to $75K for conventional.

Question 5

Which loan type has stricter income documentation?

Accepted Answer

Jumbo loans verify income more thoroughly. Self-employed borrowers face tougher scrutiny on tax returns and business cash flow.

Conventional vs Jumbo Loans in Menlo Park: Which Fits Your Price Range?