Question 1

What's the exact jumbo loan threshold in Millbrae?

Accepted Answer

Jumbo starts at $806,501 for single-family homes. San Mateo County uses the high-cost conforming limit through 2026.

Question 2

Can I get a jumbo loan with 10% down?

Accepted Answer

Some lenders allow it with strong credit and reserves. Expect higher rates than the 20% down pricing you'll see advertised.

Question 3

Do jumbo loans take longer to close?

Accepted Answer

Not necessarily. Underwriting is stricter, but timelines match conventional if your file is clean and you respond to conditions quickly.

Question 4

Should I wait for rates to drop before going jumbo?

Accepted Answer

The Fed paused cuts through early 2026. Waiting costs you time in a competitive market where inventory moves fast.

Question 5

Can I avoid PMI with less than 20% down on conventional?

Accepted Answer

Not on standard conventional loans. You'll pay PMI until you hit 20% equity through payments or appreciation.

Conventional vs Jumbo Loans in Millbrae: Which Fits Your Budget?