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in Exeter, CA
Most Exeter buyers won't need a jumbo loan. But if you're buying a higher-priced property, knowing the difference matters.
Conventional loans stay within FHFA conforming limits. Jumbo loans go above those limits — and the rules change significantly.
Conventional loans are the most common loan type we fund. They're not government-backed, but they follow Fannie Mae and Freddie Mac guidelines.
Most borrowers need a 620 credit score to qualify. Put 20% down and you skip private mortgage insurance entirely.
These loans offer fixed and adjustable-rate options. Terms typically run 15 or 30 years.
Jumbo loans finance properties above the conforming limit. In Tulare County, that line is set by the FHFA each year.
Lenders take on more risk with jumbo loans. Expect higher credit score requirements — typically 700 or above.
Down payments are usually 10-20% minimum. Reserves of 6-12 months of payments are commonly required.
Local decision guide
Use this comparison to weigh Conventional Loans and Jumbo Loans through local payment fit, eligibility, documentation, and timing before choosing a path in Exeter.
Most Exeter buyers won't need a jumbo loan. But if you're buying a higher-priced property, knowing the difference matters.
Conventional loans stay within FHFA conforming limits. Jumbo loans go above those limits — and the rules change significantly.
Conventional loans are the most common loan type we fund. They're not government-backed, but they follow Fannie Mae and Freddie Mac guidelines.
The biggest difference is loan size. Conventional loans have a ceiling. Jumbo loans don't — but they cost more to qualify for.
HousingWire flagged the 30-year fixed hitting 6.57% recently, with application volume dropping sharply. Jumbo rates don't always track that number — they're priced separately by each lender.
Conventional loans can be sold to Fannie Mae or Freddie Mac. Jumbo loans stay on the lender's books, which is why terms vary so much.
If your purchase price stays within the conforming limit for Tulare County, go conventional. You'll face fewer hoops and more lender competition.
If you're buying above that limit, a jumbo loan is your only path. Make sure your credit, reserves, and income documentation are clean.
We shop both across 200+ wholesale lenders. Sometimes a jumbo from one lender beats a conventional from another on total cost.
The FHFA sets conforming limits annually. Any loan above that amount in Tulare County requires jumbo financing.
Not always. Jumbo rates are priced per lender. Rates vary by borrower profile and market conditions.
Some lenders allow 10% down on jumbo loans. Expect stricter reserve and credit requirements at that level.
Yes. Lenders typically want 700+ credit and 6-12 months of reserves. Debt-to-income limits are tighter too.
Most Exeter buyers use conventional loans. Jumbo loans come into play for higher-value purchases above the conforming limit.