Loading
in Dixon, CA
Dixon's housing market sits at an interesting crossroads. Most homes here fall under conforming loan limits, but properties on larger lots or newer construction can push you into jumbo territory.
The difference between these loans isn't just about property price. Qualifying standards, down payments, and rate structures change once you cross that conforming limit threshold.
Conventional loans work for most Dixon purchases. You can put down as little as 3% on properties under the conforming limit, though 20% down eliminates mortgage insurance.
Lenders set clearer approval guidelines here. Credit scores as low as 620 can work, and debt-to-income ratios up to 50% get approved with strong compensating factors.
Rate pricing is standardized across lenders because Fannie Mae and Freddie Mac buy these loans. That means you'll see consistent pricing when we shop your rate across our 200+ lender network.
Jumbo loans finance Dixon properties above $806,500. These loans don't follow Fannie or Freddie rules, so each lender sets their own guidelines.
Expect stricter requirements. Most lenders want 680+ credit, though some accept 660 for strong files. Down payments typically start at 10%, with better rates at 20% down.
You'll need deeper cash reserves too. Lenders usually require 6-12 months of mortgage payments in the bank after closing, depending on loan size and your debt ratio.
The conforming limit splits these programs. In Solano County, that's $806,500 for single-family homes. One dollar over and you're shopping jumbo lenders instead.
Jumbo loans demand stronger financial profiles. Credit needs to be higher, reserves need to be deeper, and documentation gets more thorough. Income verification is stricter too.
Rate spreads vary by lender on jumbos. We see wider pricing differences across our lender network for jumbo loans versus conventional. Shopping rates matters more when you're above conforming limits.
Your purchase price decides this for you. Below $806,500, conventional loans offer easier qualifying and lower down payments. Above that number, jumbo is your only option.
If you're close to the conforming limit, consider adjusting your purchase price. Staying at $800,000 instead of $820,000 could save you points on rate and thousands in extra reserves.
Dixon buyers with strong credit and cash reserves handle jumbo requirements fine. But if you're stretching to qualify, staying in conventional loan territory makes approval more certain.
The conforming loan limit in Solano County is $806,500 for single-family homes. Anything above that requires a jumbo loan.
Yes, most jumbo lenders accept 10% down with strong credit. Rates improve at 15% and 20% down payment levels.
Not always. Rates vary by borrower profile and market conditions, but jumbo rates sometimes match or beat conventional when you have excellent credit.
Expect 6-12 months of mortgage payments in liquid reserves after closing. Larger loan amounts require deeper reserves.
Yes, put down 20% or more and you won't pay mortgage insurance. Below 20% down, PMI applies until you reach 78% loan-to-value.