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Jumbo Loans in Exeter
Exeter sits in Tulare County where home values span wide ranges. Most properties fall under conforming limits, but rural acreage and larger ranch-style homes push past the 2024 limit of $766,550.
Jumbo loans bridge the gap when standard conforming financing stops. In smaller Central Valley markets, these loans typically fund 5+ acre parcels with custom homes or high-end citrus ranch properties.
Lenders want 700+ credit scores for jumbo approval. Most require 20% down, though some accept 10-15% with strong income documentation and reserves.
Expect to show 6-12 months reserves in liquid assets. Debt-to-income ratios max out at 43% for most wholesale lenders, stricter than conforming standards.
Not all lenders offer jumbo programs in Tulare County. Regional banks often pull back from agricultural areas, limiting options compared to suburban markets.
Wholesale lenders through brokers provide better rate access than retail banks. We shop 200+ lenders to find programs that treat ag income fairly and understand rural appraisals.
Exeter jumbo deals succeed or fail on appraisals. Rural properties with few recent sales require experienced appraisers who understand land value and ag improvements.
Order appraisals early and budget extra time. A property with water rights, outbuildings, and mature orchards needs an appraiser who won't treat it like a tract home.
If your purchase price sits near the conforming limit, run both scenarios. Conventional loans under $766,550 offer easier approval and lower rates.
Adjustable rate jumbos start 0.50-0.75% below fixed rates. For borrowers planning to sell within 7 years, ARMs significantly reduce carrying costs.
Tulare County properties often include ag income from leases or crops. Document this income with tax returns showing consistent 2-year history.
Well and septic systems are common outside city limits. Lenders require inspections and certifications, adding steps to closing. Properties with shared wells face additional scrutiny.
Any loan above $766,550 in 2024. This covers larger properties with acreage or high-end custom homes common in Tulare County.
Some lenders allow it with 720+ credit and strong reserves. Expect higher rates and stricter income requirements than 20% down scenarios.
Many don't. We use lenders experienced with rural California who properly value ag improvements and accept farm income documentation.
Add 5-10 days for rural appraisals and extra income verification. Wells, septic, and ag features extend timelines compared to standard purchases.
Typically 0.25-0.75% higher. Strong credit and larger down payments narrow the gap. Rates vary by borrower profile and market conditions.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.