Question 1

What is the conforming loan limit in Tulare County?

Accepted Answer

The FHFA sets conforming limits annually. Check the current limit before assuming your loan amount qualifies as conventional.

Question 2

Are jumbo rates higher than conventional rates?

Accepted Answer

Not always. Jumbo rates move on lender appetite, not just market benchmarks. Rates vary by borrower profile and market conditions.

Question 3

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

Accepted Answer

Some lenders allow it, but most want at least 20% down on jumbo. Expect stricter terms if you go below that threshold.

Question 4

What credit score do I need for a conventional loan?

Accepted Answer

Most conventional lenders require a 620 minimum. A higher score gets you better pricing and fewer conditions.

Question 5

Do jumbo loans take longer to close?

Accepted Answer

They can. Jumbo lenders do more manual underwriting. Extra reserve documentation and appraisals can add time to the process.

Conventional vs Jumbo Loans in Woodlake, CA