Question 1

What is the conforming loan limit in Santa Clara County?

Accepted Answer

Santa Clara County is a high-cost area. The 2024 conforming limit is $1,089,300 for a single-family home.

Question 2

Do jumbo loans require a larger down payment?

Accepted Answer

Most jumbo lenders want 10–20% down. Some go lower, but expect stricter credit and reserve requirements in exchange.

Question 3

Are jumbo rates higher than conventional rates?

Accepted Answer

Not always. Jumbo rates vary by lender and borrower profile. Rates vary by borrower profile and market conditions.

Question 4

Can self-employed borrowers get jumbo loans?

Accepted Answer

Yes, but lenders scrutinize income closely. Two years of tax returns and strong bank statements are typically required.

Question 5

What credit score do I need for a jumbo loan?

Accepted Answer

Most jumbo lenders want 700 or above. Some programs allow lower scores, but you will pay for it in rate.

Question 6

What is a piggyback loan and when does it help?

Accepted Answer

A piggyback pairs a conventional first mortgage with a second loan. It can keep your first loan under the conforming limit.

Conventional vs Jumbo Loans in Santa Clara, CA