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Menlo Park home prices routinely exceed conforming loan limits. Most properties here require jumbo financing to close.
The Fed is holding rates steady through early 2026, with cuts expected later in the year. Current jumbo rates reflect that pause, sitting near multi-year lows around 6%.
Silicon Valley buyers compete for limited inventory with tech equity and stock compensation. Jumbo lenders here understand high earners with unconventional income streams.
Jumbo Loans in Menlo Park
Jumbo loans require 680+ credit for most lenders, though 720+ gets the best rates. We've closed deals with 660 scores but expect rate hits.
Down payment minimums start at 10% but 20% avoids mortgage insurance. Cash reserves matter more than conforming loans—expect 6-12 months required.
Debt-to-income ratios cap at 43% for most jumbo programs. Income documentation is stricter: expect full tax returns, W-2s, and asset verification.
Local decision guide
Use this guide to connect jumbo loans eligibility, lender expectations, and local market factors before comparing payment options in Menlo Park.
Menlo Park home prices routinely exceed conforming loan limits. Most properties here require jumbo financing to close.
The Fed is holding rates steady through early 2026, with cuts expected later in the year. Current jumbo rates reflect that pause, sitting near multi-year lows around 6%.
Silicon Valley buyers compete for limited inventory with tech equity and stock compensation. Jumbo lenders here understand high earners with unconventional income streams.
Portfolio lenders dominate Menlo Park jumbo lending. They hold loans on their books and underwrite for wealth, not just W-2 income.
We access 200+ wholesale lenders but only 30-40 actively compete on jumbo rates. Rate spreads between lenders can hit 0.5% on the same profile.
Jumbo lenders price risk differently. One lender sees RSU vesting schedules as solid income; another discounts them entirely.
Menlo Park buyers often underestimate cash reserve requirements. Lenders want 12 months for loans above $2M, even with perfect credit.
Tech workers with stock compensation need lenders who count unvested equity. Not all do—this changes approval odds significantly.
Jumbo ARM rates beat fixed rates by 0.75-1% right now. With Fed cuts expected later this year, a 7/1 ARM makes sense for buyers planning to refinance within 3 years.
Conforming loans max at $832,750 in San Mateo County for 2026. That eliminates them for most Menlo Park properties.
Adjustable rate mortgages offer lower start rates and make sense if you expect income growth or plan to refinance when rates drop later this year.
Interest-only loans work for buyers with variable comp who want payment flexibility. You pay only interest for 10 years, then amortize or refinance.
Menlo Park sits in Facebook, Google, and venture capital territory. Lenders here expect stock options, carried interest, and deferred comp on applications.
Properties near Stanford and downtown command premiums. Lenders may require higher reserves for homes above $3M regardless of down payment.
San Mateo County has no special transfer taxes, but appraisals run conservative. Order appraisals early to avoid retrading at closing.
Most lenders require 680 minimum, but 720+ unlocks best rates. We've closed 660 scores with rate adjustments and higher down payments.
You can start at 10% down but 20% avoids mortgage insurance. Some lenders require 25-30% for loans above $2.5M.
Some do, some don't. Portfolio lenders in this market understand RSUs and vesting schedules better than national banks.
ARMs price 0.75-1% lower than fixed rates as of February 2026. Consider a 7/1 ARM if you plan to refinance when Fed cuts hit later this year.
Expect 30-45 days with responsive lenders. Documentation requirements are heavier than conforming loans, especially for tech compensation verification.