Question 1

What makes a loan 'jumbo' in Solano County?

Accepted Answer

Any loan above the FHFA's conforming limit for Solano County is jumbo. Check the current limit before assuming you need one.

Question 2

Can I get a jumbo loan with less than 20% down?

Accepted Answer

Some lenders allow 10% down on jumbo loans. You'll typically need strong credit and solid reserves to qualify at that tier.

Question 3

Are jumbo rates higher than conforming rates?

Accepted Answer

Not always. Jumbo rates sometimes run close to or below conforming rates depending on lender and borrower profile. Rates vary by borrower profile and market conditions.

Question 4

Do jumbo loans require two appraisals?

Accepted Answer

Some lenders require a second appraisal on large jumbo loans. It depends on the loan size and the specific lender's guidelines.

Question 5

Can a self-employed borrower get a jumbo loan in Fairfield?

Accepted Answer

Yes, but expect more documentation. Most lenders want two years of tax returns and may average income differently.

Question 6

Why use a broker for a jumbo loan instead of my bank?

Accepted Answer

Banks only show you their own products. A broker shops multiple wholesale lenders to find the one that fits your specific file.

Jumbo Loans in Fairfield, CA — Big Purchase, Right Lender