Question 1

What is the minimum credit score for a jumbo loan in Santa Clara?

Accepted Answer

Most jumbo lenders require 700 or higher. Some programs allow 680 with significant cash reserves and low debt.

Question 2

How much down payment do I need for a jumbo loan?

Accepted Answer

Most lenders require at least 10-20% down. Larger down payments often unlock better rates and fewer reserve requirements.

Question 3

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

Accepted Answer

Yes, but lender policies vary significantly. Some count vested RSUs fully — others discount or exclude them entirely.

Question 4

Are jumbo rates higher than conforming rates?

Accepted Answer

Not always. Jumbo rates have traded near or below conforming rates in some cycles. Rates vary by borrower profile and market conditions.

Question 5

How long does jumbo loan approval take in Santa Clara?

Accepted Answer

Plan for 30-45 days. Jumbo files require more documentation and often go through manual underwriting, which takes longer.

Question 6

Should I choose a fixed or ARM for my jumbo loan?

Accepted Answer

That depends on how long you plan to hold the property. ARMs start lower but adjust — a broker can model both scenarios.

Jumbo Loans in Santa Clara, CA