Question 1

What loan amount triggers jumbo status in Watsonville?

Accepted Answer

Loans above $806,500 qualify as jumbo in Santa Cruz County. This limit applies to most California counties outside high-cost areas.

Question 2

Can I get a jumbo loan with 10% down?

Accepted Answer

Some lenders approve 10% down with 740+ credit and strong reserves. Most require 20% down for standard jumbo programs.

Question 3

How much reserves do jumbo lenders require?

Accepted Answer

Expect 12 months of mortgage payments in liquid accounts. Higher loan amounts or complex income may require 18-24 months.

Question 4

Do jumbo rates differ much between lenders?

Accepted Answer

Rates vary 0.25-0.5% between portfolio and conventional jumbo lenders. Shopping multiple lenders saves thousands over the loan term.

Question 5

Are jumbo appraisals stricter in Watsonville?

Accepted Answer

Yes, especially for rural or coastal properties. Lenders require thorough comparables, which can extend appraisal timelines by 1-2 weeks.

Jumbo Loans in Watsonville: Finance Properties Above Conforming Limits