Question 1

What is the conforming loan limit in Tulare County?

Accepted Answer

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

Question 2

Do jumbo loans always have higher rates than conventional?

Accepted Answer

Not always. Jumbo rates depend on the lender and your profile. Rates vary by borrower profile and market conditions.

Question 3

What credit score do I need for a jumbo loan?

Accepted Answer

Most jumbo lenders want 700 or higher. Some require 720+. A conventional loan can be approved with a 620 score.

Question 4

Can I put 10% down on a jumbo loan?

Accepted Answer

Some lenders allow it with strong credit and reserves. Many jumbo programs still require 20% down.

Question 5

Are jumbo loans harder to get approved for?

Accepted Answer

Yes. Lenders hold jumbo loans on their own books, so they scrutinize income, assets, and credit more carefully.

Question 6

Which loan is better for a Visalia home purchase?

Accepted Answer

Most Visalia purchases fall under the conforming limit — conventional wins there. Jumbo is for higher-priced properties that exceed that cap.

Conventional vs Jumbo Loans in Visalia, CA