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in Campbell, CA
Campbell sits in one of the priciest housing markets in the country. That one fact determines which loan type you need before we talk about anything else.
The conforming loan limit for Santa Clara County sets the dividing line. Go above it and you're in jumbo territory — different rules, different lenders, different approval standards.
Conventional loans follow FHFA guidelines. Lenders can sell them to Fannie Mae or Freddie Mac, which keeps rates competitive and approval timelines predictable.
You need at least a 620 credit score, but 740+ gets you the best pricing. Down payments start at 3%, though 20% avoids private mortgage insurance.
Jumbo loans cover purchase prices above the conforming limit. In Campbell, that means most single-family homes will push buyers into jumbo range.
Lenders hold these loans on their own books. That shifts risk their way — so expect tighter credit requirements, larger reserves, and full income documentation.
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 Campbell.
Campbell sits in one of the priciest housing markets in the country. That one fact determines which loan type you need before we talk about anything else.
The conforming loan limit for Santa Clara County sets the dividing line. Go above it and you're in jumbo territory — different rules, different lenders, different approval standards.
Conventional loans follow FHFA guidelines. Lenders can sell them to Fannie Mae or Freddie Mac, which keeps rates competitive and approval timelines predictable.
HousingWire flagged the 30-year fixed hitting 6.57% with applications dropping 10.4% week-over-week. Jumbo rates often track differently than conforming rates — sometimes lower, sometimes higher, depending on lender appetite.
Debt-to-income limits are tighter on jumbo loans. Most lenders cap DTI at 43%, and some go lower. Conventional loans through Fannie Mae can allow DTI up to 50% with strong compensating factors.
Conventional loans are broadly available across hundreds of wholesale lenders. Jumbo products vary more — terms, reserve requirements, and rate sheets differ significantly by lender.
If your loan amount stays within the conforming limit, conventional wins. Lower reserves, more flexible DTI, and broader lender competition all work in your favor.
If you're buying at typical Campbell prices, you likely need a jumbo loan. The key is coming in with strong credit, solid reserves, and clean income documentation.
Self-employed buyers with variable income should talk to us before assuming jumbo is out of reach. We work with lenders who price jumbo competitively for high-asset borrowers.
Santa Clara County qualifies for high-cost area limits set by the FHFA. Loans above that threshold are jumbo and follow different guidelines.
Not always. Jumbo rates depend on the lender's portfolio appetite. Some lenders price jumbo below conforming for borrowers with 760+ credit. Rates vary by borrower profile and market conditions.
Some lenders allow 10-15% down on jumbo loans. Expect higher reserves and stricter credit requirements at those LTV levels.
Conventional loans have more flexibility on DTI and credit. Jumbo approval demands stronger overall financial profiles across the board.
Most jumbo products don't require PMI. Lenders manage risk through larger down payments and reserve requirements instead.
Some jumbo lenders allow gift funds, but many require at least part of the down payment to come from your own assets. It depends on the lender.