Question 1

What is the conforming loan limit in Sonoma County?

Accepted Answer

The FHFA sets conforming limits annually. Anything above that limit in Sonoma County requires a jumbo loan.

Question 2

Are jumbo rates higher than conventional rates?

Accepted Answer

Not always. Some wholesale lenders price jumbo competitively. Shopping across lenders is critical. Rates vary by borrower profile and market conditions.

Question 3

How much do I need down for a jumbo loan in Santa Rosa?

Accepted Answer

Most jumbo lenders require 10-20% down. Some programs allow 10% with strong credit and reserves.

Question 4

Can I get a jumbo loan with a 680 credit score?

Accepted Answer

It's uncommon but possible with the right lender. Most jumbo programs want 700+, and pricing improves significantly above 740.

Question 5

Do conventional loans require mortgage insurance?

Accepted Answer

Yes, if your down payment is below 20%. PMI cancels automatically once you reach 20% equity in the home.

Question 6

Which loan closes faster — conventional or jumbo?

Accepted Answer

Conventional typically closes faster. Jumbo underwriting involves more manual review, which can add time to the process.

Conventional vs Jumbo Loans in Santa Rosa, CA