Question 1

What's the minimum down payment for a jumbo loan in San Bruno?

Accepted Answer

Most lenders require 20% down for best pricing. You can find 10% down programs but expect higher rates and stricter reserve requirements.

Question 2

How do jumbo rates compare to conforming rates right now?

Accepted Answer

Jumbo rates run 0.25-0.5% higher than conforming on average. Strong credit and large down payments can narrow that spread with the right lender.

Question 3

Can I use stock options as income for a jumbo loan?

Accepted Answer

Yes, but documentation requirements are strict. We need 2 years of vesting history and underwriters typically average the income rather than use current value.

Question 4

What credit score do I need for a jumbo loan?

Accepted Answer

700 minimum for most programs, 740+ for best pricing. Scores below 720 trigger higher rates and reserve requirements.

Question 5

Should I consider an ARM for a San Bruno purchase?

Accepted Answer

ARMs make sense if you expect to move or refinance within 5-7 years. They price about 0.375% below fixed rates as of February 2026.

Question 6

How much in reserves do I need for a $2 million purchase?

Accepted Answer

Plan for 12 months minimum, often 24 months depending on the lender. Higher loan amounts and self-employment income push reserve requirements up.

Jumbo Loans in San Bruno: Financing Above Conforming Limits