Question 1

What loan amount triggers jumbo status in Santa Clara County?

Accepted Answer

Any loan above the FHFA conforming limit is jumbo. In Santa Clara County, that threshold is high, but most Los Altos Hills purchases exceed it.

Question 2

Can I use RSU income to qualify for a jumbo loan?

Accepted Answer

Yes, but lenders want a 2-year history of receiving RSUs. They'll average the vested income and may discount it depending on your employer.

Question 3

Do jumbo loans require 20% down?

Accepted Answer

Most programs do, but 10% down jumbo options exist. Expect stricter credit and reserve requirements when putting less down.

Question 4

How long does a jumbo loan take to close?

Accepted Answer

Plan for 30-45 days. Jumbo underwriting is more manual than conforming. Complex income situations can push that to 60 days.

Question 5

Are jumbo rates higher than conforming rates?

Accepted Answer

Not always. On large loan balances, jumbo rates can actually beat conforming. It depends on the lender and your profile. Rates vary by borrower profile and market conditions.

Question 6

What reserves do I need for a jumbo loan in Los Altos Hills?

Accepted Answer

Most lenders require 12 months of housing payments in liquid reserves. Some portfolio lenders will count investment accounts at 60-70% of their value.

Jumbo Loans in Los Altos Hills, CA