Question 1

What down payment do I need for a jumbo loan in Portola Valley?

Accepted Answer

Most lenders require 20% down for standard jumbo pricing. Some portfolio lenders offer 10-15% down programs with higher rates or mortgage insurance.

Question 2

How do jumbo rates compare to conforming rates right now?

Accepted Answer

Jumbo rates currently run 0.25-0.50% above conforming rates depending on loan size and borrower profile. That spread has tightened significantly from historical norms.

Question 3

Can I use stock options or RSUs for income qualification?

Accepted Answer

Yes, but lenders require two-year history and calculate averages. Restricted stock units need vesting schedules showing continued income stream.

Question 4

Do all jumbo loans require full income documentation?

Accepted Answer

Standard jumbo loans need full documentation. Bank statement programs exist for self-employed borrowers, typically with larger down payments.

Question 5

Should I consider an ARM for a Portola Valley jumbo loan?

Accepted Answer

ARMs make sense if you plan to move or refinance within the fixed period. They typically save 50-75 basis points versus 30-year fixed jumbo rates.

Jumbo Loans for Portola Valley's High-Value Properties