Question 1

What is the conforming loan limit in Tulare County?

Accepted Answer

The FHFA sets conforming limits annually. Any loan above that amount in Tulare County requires jumbo financing.

Question 2

Do jumbo loans have higher interest rates than conventional?

Accepted Answer

Not always. Jumbo rates are priced per lender. Rates vary by borrower profile and market conditions.

Question 3

Can I put less than 20% down on a jumbo loan?

Accepted Answer

Some lenders allow 10% down on jumbo loans. Expect stricter reserve and credit requirements at that level.

Question 4

Is it harder to qualify for a jumbo loan?

Accepted Answer

Yes. Lenders typically want 700+ credit and 6-12 months of reserves. Debt-to-income limits are tighter too.

Question 5

Which loan type is more common in Exeter?

Accepted Answer

Most Exeter buyers use conventional loans. Jumbo loans come into play for higher-value purchases above the conforming limit.

Conventional vs Jumbo Loans in Exeter, CA