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in South San Francisco, CA
South San Francisco sits at the edge of the Bay Area's priciest real estate. The 2026 conforming limit is $1,249,125—anything above that triggers jumbo pricing.
Choosing between conventional and jumbo depends on your purchase price and down payment. Both require solid credit and income verification. The real difference shows up in rates, fees, and how much cash you need at closing.
Conventional loans max out at the 2026 conforming limit of $1,249,125 in San Mateo County. Lenders typically want 5% to 10% down, though 20% skips mortgage insurance entirely. Credit scores of 620 and up qualify, but 740+ gets the best pricing.
PMI (mortgage insurance) applies when you put down less than 20%. It cancels automatically once your loan balance hits 80% of the home's value. On a purchase near the conforming cap, that protection matters—it lets you close with less cash upfront.
Jumbo loans finance homes above $1,249,125—the conforming ceiling. They carry higher rates than conventional because the lender takes on more risk. Most jumbo programs require 10% to 20% down and credit scores of 700 or higher.
Jumbo loans don't have mortgage insurance. Instead, the rate itself reflects the larger loan size and risk. You'll see a meaningful rate bump compared to conventional, but you avoid the monthly MI payment that conventional buyers with less than 20% down carry.
Local decision guide
Use this comparison to weigh Conventional Loans and Jumbo Loans through local payment fit, eligibility, documentation, and timing before choosing a path in South San Francisco.
South San Francisco sits at the edge of the Bay Area's priciest real estate. The 2026 conforming limit is $1,249,125—anything above that triggers jumbo pricing.
Choosing between conventional and jumbo depends on your purchase price and down payment. Both require solid credit and income verification. The real difference shows up in rates, fees, and how much cash you need at closing.
Conventional loans max out at the 2026 conforming limit of $1,249,125 in San Mateo County. Lenders typically want 5% to 10% down, though 20% skips mortgage insurance entirely. Credit scores of 620 and up qualify, but 740+ gets the best pricing.
The conforming limit is the hard line. Conventional loans stop at $1,249,125; jumbo picks up above that. If you're buying a $1.3 million home in South San Francisco, jumbo is your only path. Below the cap, conventional wins on rate and flexibility.
Down payment gaps matter here. Conventional lets you start at 5% down with PMI. Jumbo typically requires 10% minimum, often 15% to 20%. That's a meaningful chunk of extra cash needed at closing.
Conventional is right if you're buying below $1,249,125 and have limited savings. With a $156,000 county median income, many South San Francisco buyers fall into this range. You can put 5% down, carry PMI for a few years, and build equity faster.
Jumbo makes sense if you're buying above the conforming cap or have substantial down payment savings. South San Francisco's tech workers often have equity from prior sales or stock options.
The 2026 conforming limit is $1,249,125. Any loan above that amount is considered jumbo and carries different pricing and terms.
Most jumbo lenders require 10% to 20% down. Conventional loans allow 5% down with mortgage insurance. If you have limited savings, conventional is the better fit.
No. Jumbo loans skip mortgage insurance entirely. Instead, the interest rate is higher to compensate the lender for the larger loan amount and risk.
Conventional loans start at 620 FICO, though 740+ gets the best rates. Jumbo lenders typically require 700 FICO minimum. Higher scores help both programs.
Conventional is cheaper. You'll see a lower rate and can put 5% down with PMI. Jumbo's higher rate and 10%+ down requirement add cost on homes just below the conforming cap.