Question 1

What is the 2026 conforming loan limit in California?

Accepted Answer

The FHFA set the 2026 conforming limit at $806,500 for standard counties. Loans above that require jumbo financing.

Question 2

Are jumbo rates always higher than conventional rates?

Accepted Answer

Not always. Jumbo rates fluctuate independently. Rates vary by borrower profile and market conditions — get quotes on both.

Question 3

Can I put 10% down on a jumbo loan?

Accepted Answer

Some jumbo lenders allow 10% down with strong credit and reserves. Most prefer 20% to avoid added risk layers.

Question 4

Do I need to be employed to get a jumbo loan?

Accepted Answer

No, but income must be fully documented. Self-employed borrowers need two years of tax returns and strong bank history.

Question 5

What credit score do I need for a conventional loan?

Accepted Answer

Lenders require a minimum 620 score for conventional. Higher scores unlock better pricing and lower PMI rates.

Question 6

Is a jumbo loan harder to get approved?

Accepted Answer

Yes. Lenders hold jumbo loans themselves, so they scrutinize credit, income, and reserves more carefully than conforming loans.

Conventional vs Jumbo Loans in Solvang, CA