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Jamestown sits in the Sierra foothills where $1.3M+ homes are common. At 6.375%, a $1.1M jumbo loan runs $6,863 monthly for principal and interest alone. That's the price of entry for mountain acreage and newer construction here.
Tuolumne County's median household income of $72,259 means most jumbo buyers here are relocating from the Bay Area or Sacramento. They're cashing out equity and buying land with room to build.
6.375%
Interest Rate
$6,863
Monthly P&I
740
FICO Minimum
20% ($275K)
Down Payment
45-60 days
Underwriting
Jumbo Loans in Jamestown
Jumbo loans in Jamestown require 740+ FICO, 20% down minimum, and 6-12 months of liquid reserves. Lenders want to see that you can carry the loan if rates spike or income drops.
Tuolumne County's median household income of $72,259 won't qualify you for a $1.1M jumbo on W-2 income alone. Most jumbo buyers here have investment income, rental property, or business ownership. Debt-to-income caps are tighter — usually 43% maximum.
Local decision guide
Use this guide to connect jumbo loans eligibility, lender expectations, and local market factors before comparing payment options in Jamestown.
Jamestown sits in the Sierra foothills where $1.3M+ homes are common. At 6.375%, a $1.1M jumbo loan runs $6,863 monthly for principal and interest alone. That's the price of entry for mountain acreage and newer construction here.
Tuolumne County's median household income of $72,259 means most jumbo buyers here are relocating from the Bay Area or Sacramento. They're cashing out equity and buying land with room to build.
Jumbo loans in Jamestown require 740+ FICO, 20% down minimum, and 6-12 months of liquid reserves. Lenders want to see that you can carry the loan if rates spike or income drops.
Jumbo lending in California is a wholesale game. Retail banks (Wells Fargo, Bank of America) have jumbo programs but they're expensive and slow. Mortgage brokers access 15-20 jumbo lenders through wholesale channels.
Underwriting takes 45-60 days for jumbo because lenders order appraisals, verify reserves, and pull tax returns. Appraisals in Jamestown can be slow — fewer comparable sales in the mountains. Lock your rate early.
Jumbo makes sense in Jamestown if you're buying $1.2M+ and have 20% down ready. Below $1.1M, conventional conforming loans (capped at $832,750) plus a piggyback second mortgage often beats jumbo pricing. The math flips at $1.375M purchase price.
The real advantage: jumbo rates at 6.375% lock in for 30 years with no PMI and no rate penalty. Conforming loans below 80% LTV also have no PMI, but conforming caps out at $832,750.
A jumbo 30-year fixed locks your rate for 30 years with no PMI. A jumbo 7/1 ARM typically starts lower but adjusts after year seven. If you plan to stay 10+ years, fixed wins.
Conventional loans max out at $832,750 in Tuolumne County. Above that, you need jumbo. Some buyers consider a $832,750 conforming loan plus a $267,250 second mortgage (piggyback). That splits the risk but adds complexity and a second payment.
Jamestown is a Gold Rush town with limited new construction. Most jumbo buyers here are renovating historic homes or building on raw land. Property taxes run 0.62% of assessed value — lower than the Bay Area.
Schools in Tuolumne County are rural but solid. Jamestown Elementary feeds into Jackson Middle and Sonora High. If you're buying for family, the trade-off is clear: mountain quiet and lower taxes versus a 90-minute drive to Sacramento or the Bay.
Principal and interest run $6,863 per month. Add property taxes (roughly $715/month on a $1.375M home), insurance ($150-200), and HOA if applicable. Total housing payment is typically $7,800-8,000.
Yes. Jumbo lenders require 20% down minimum (80% LTV). On a $1.375M purchase, that's $275,000 cash. Some lenders go to 25% down for self-employed borrowers or those with lower reserves.
Plan for 45-60 days. Appraisals in the mountains take longer because there are fewer comparable sales. Lenders also verify your reserves (6-12 months of liquid funds) and pull two years of tax returns.
Yes, but lenders need two years of tax returns, a CPA letter, and proof of ongoing income. Self-employed borrowers often face tighter debt-to-income caps (40% instead of 43%) and may need higher reserves. Expect longer underwriting.
At $1.375M in Jamestown, jumbo is cheaper. One loan at 6.375% beats a conforming first ($832,750) plus a second mortgage. The second mortgage carries a higher rate (7.5-8.5%) and adds complexity.