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in Visalia, CA
Most Visalia buyers stay under the $806,500 conforming loan limit and use conventional financing. Jumbo loans kick in above that threshold for higher-priced properties in Tulare County.
The right loan depends on your purchase price and financial profile. Conventional loans offer easier approval and lower rates, while jumbo loans unlock access to luxury properties.
Conventional loans work for any purchase under $806,500 in Visalia. You can put down as little as 3% and cancel PMI once you hit 20% equity.
Credit requirements start at 620 for most lenders, though better terms kick in at 740+. Two years of steady income and 43% max debt ratio are standard for approval.
Jumbo loans finance anything above $806,500 with no upper limit. Expect stricter underwriting—most lenders want 700+ credit and 10-20% down minimum.
Lenders typically require 6-12 months of reserves after closing. That means liquid assets covering your full mortgage payment for at least half a year.
The conforming limit draws the line. Below $806,500, conventional loans offer lower rates and easier approval because Fannie Mae and Freddie Mac buy these loans from lenders.
Jumbo loans sit on lender balance sheets, so underwriting gets tighter. You'll face higher credit minimums, larger down payments, and stricter asset verification.
If you're buying under $806,500 in Visalia, conventional wins on rate and flexibility. Save jumbo loans for properties that actually need them—luxury homes in neighborhoods where prices push past conforming limits.
Jumbo makes sense when you have strong credit, substantial assets, and you're targeting higher-priced properties. Don't stretch into jumbo territory just to max out your budget.
Jumbo loans start at $806,501 in Tulare County. Anything at or below $806,500 qualifies as conforming.
Usually by 0.25-0.75%, though strong borrowers sometimes see competitive pricing. Rates vary by borrower profile and market conditions.
No. Most jumbo lenders require 10-20% minimum down payment, sometimes higher for larger loan amounts.
Yes. Conventional loans start at 620 credit, while jumbo lenders typically want 700 or higher.
Liquid assets covering 6-12 months of mortgage payments after closing. This proves you can weather financial disruptions.