Question 1

What's the conforming loan limit in Montague?

Accepted Answer

$766,550 for Siskiyou County. Above that amount requires jumbo financing regardless of property type or location within the county.

Question 2

Can I get a jumbo loan with 10% down?

Accepted Answer

Some lenders allow it with strong credit and reserves. Most prefer 15-20% down for competitive rates and smoother approval.

Question 3

Do jumbo loans always have higher rates?

Accepted Answer

Not always. Borrowers with 740+ credit and 20% down often see jumbo rates match or beat conventional pricing.

Question 4

How much reserves do I need for jumbo financing?

Accepted Answer

Typically 6-12 months of mortgage payments. Larger loans and investment properties require reserves on the higher end of that range.

Question 5

Can I avoid PMI with less than 20% down on conventional?

Accepted Answer

No. Conventional loans require PMI below 20% down until you reach that equity threshold through payments or appreciation.

Conventional vs Jumbo Loans in Montague: Which Fits Your Siskiyou County Purchase?