Question 1

What's the conforming loan limit in Santa Clara County?

Accepted Answer

Conforming limits change annually and vary by county. Santa Clara County has a higher limit than baseline counties due to elevated home prices.

Question 2

Can I get a jumbo loan with less than 20% down?

Accepted Answer

Yes, some lenders approve jumbo loans with 10% down. You'll need exceptional credit and substantial reserves to qualify at that level.

Question 3

Do jumbo loans always have higher rates?

Accepted Answer

Not always. Strong borrowers with 20%+ down sometimes get better jumbo rates than conventional. Portfolio lenders price aggressively for low-risk profiles.

Question 4

Can I refinance from jumbo to conventional?

Accepted Answer

Only if your loan balance drops below conforming limits through paydown. Appreciation alone won't change your loan type without refinancing.

Question 5

Which loan type closes faster?

Accepted Answer

Both take similar timeframes. Jumbo loans involve more documentation review, but experienced lenders close them just as efficiently as conventional.

Conventional vs Jumbo Loans in Mountain View: Which Fits Your Budget?