Question 1

What is the conforming loan limit in Tuolumne County?

Accepted Answer

The FHFA sets conforming limits annually. Tuolumne County follows the standard national baseline — any loan above that limit is jumbo.

Question 2

Do jumbo loans have higher rates than conventional?

Accepted Answer

Usually yes. Lenders price in more risk on jumbo loans. Rates vary by borrower profile and market conditions.

Question 3

Can I put 10% down on a jumbo loan?

Accepted Answer

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

Question 4

What credit score do I need for a conventional loan?

Accepted Answer

Most conventional lenders require a 620 minimum. Higher scores get better rates and fewer conditions.

Question 5

How many months of reserves do jumbo lenders want?

Accepted Answer

Most jumbo lenders require 12 months of liquid reserves after closing. Some programs require more on larger loan amounts.

Question 6

Which loan type is faster to close?

Accepted Answer

Conventional loans typically close faster. Jumbo underwriting is more manual and takes longer due to stricter review.

Conventional vs Jumbo Loans in Sonora, CA