Question 1

What is the jumbo loan threshold in Tulare County?

Accepted Answer

In Tulare County, loans above $806,500 are considered jumbo. Below that, you're in conventional conforming territory.

Question 2

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

Accepted Answer

Some lenders allow 10% down on jumbo loans. Expect stricter credit and reserve requirements when going below 20%.

Question 3

Do jumbo loans always have higher rates than conventional?

Accepted Answer

Not always, but jumbo rates can run higher. Rates vary by borrower profile and market conditions.

Question 4

What credit score do I need for a conventional loan?

Accepted Answer

Most conventional programs require a 620 minimum. Higher scores get better pricing — aim for 740 or above.

Question 5

Are jumbo loans harder to get approved?

Accepted Answer

Yes. Jumbo underwriting is manual and detailed. Lenders require stronger credit, more income documentation, and larger reserves.

Question 6

Does PMI apply to jumbo loans?

Accepted Answer

Jumbo loans don't use traditional PMI. Lenders offset risk through larger down payments and stricter qualifying standards instead.

Conventional vs Jumbo Loans in Tulare, CA