Question 1

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

Accepted Answer

Most lenders require 20-30% down. On a $5 million purchase, expect to put down $1-1.5 million. Larger down payments can unlock better rates.

Question 2

How much cash reserves do jumbo lenders require?

Accepted Answer

Expect 12-24 months of mortgage payments in liquid reserves. On a $4 million loan with $25,000 monthly payment, that's $300,000-$600,000 in accessible funds after closing.

Question 3

Can I get a jumbo loan with 10% down?

Accepted Answer

Some lenders offer 10% down jumbo programs, but rates run 0.5-0.75% higher. You'll also need stronger credit and reserves. It's rare for loans above $3 million.

Question 4

Do jumbo rates differ between ARM and fixed products?

Accepted Answer

Yes. A 7/1 ARM typically prices 0.75-1.0% below a 30-year fixed jumbo. On large loan amounts, that difference translates to significant monthly savings during the fixed period.

Question 5

How long does jumbo loan underwriting take in Woodside?

Accepted Answer

Plan for 45-60 days from application to closing. Custom estates require detailed appraisals. Complex income structures add review time.

Question 6

Are jumbo loan limits different in San Mateo County?

Accepted Answer

The conforming limit here is $1,149,825. Anything above that is jumbo. There's no upper limit, but lenders cap programs at $2-10 million depending on their risk appetite.

Jumbo Loans in Woodside: Financing Million-Dollar Estates in Silicon Valley