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Ojai is one of Ventura County's most desirable addresses. Ranch estates, hillside retreats, and custom homes here routinely price above conforming loan limits.
That means conventional Fannie Mae financing won't cover most purchases. Jumbo loans exist precisely for this price tier.
700+ (720 preferred)
Min Credit Score
Above conforming limit
Loan Threshold
10–20% typical
Down Payment
12–24 months
Reserves Required
Fixed or ARM
Rate Type Options
Jumbo Loans in Ojai
Jumbo lenders underwrite tightly. Most require a 700+ credit score, and many prefer 720 or higher for the best pricing.
Expect to document 12-24 months of reserves. Debt-to-income ratios are scrutinized harder than on conforming loans.
Local decision guide
Use this guide to connect jumbo loans eligibility, lender expectations, and local market factors before comparing payment options in Ojai.
Ojai is one of Ventura County's most desirable addresses. Ranch estates, hillside retreats, and custom homes here routinely price above conforming loan limits.
That means conventional Fannie Mae financing won't cover most purchases. Jumbo loans exist precisely for this price tier.
Jumbo lenders underwrite tightly. Most require a 700+ credit score, and many prefer 720 or higher for the best pricing.
Jumbo guidelines vary dramatically by lender. One bank might cap at $2M. Another goes to $5M with different rate pricing entirely.
Retail banks hold many jumbo loans in portfolio. That means no two lenders price or underwrite them the same way.
The biggest mistake Ojai buyers make is going straight to their bank. Banks offer one set of guidelines. We compare dozens.
On a $2M purchase, a 0.25% rate difference is real money. Getting that requires actually shopping the wholesale market.
Some buyers split financing between a conforming first loan and a second mortgage. That avoids jumbo altogether on mid-range purchases.
But for true luxury Ojai properties, a single jumbo loan is cleaner. Two loans mean two sets of closing costs and two approval processes.
Ojai's rural character means appraisals can be tricky. Comparable sales are sparse. Jumbo lenders are already cautious — a weak appraisal kills deals.
Choose a lender familiar with Ventura County rural estates. Appraisal issues on jumbo loans take longer to resolve than on conforming files.
Any loan above the FHFA conforming limit for Ventura County requires jumbo financing. That threshold adjusts periodically, so confirm the current limit before structuring your offer.
Most jumbo lenders require 10-20% down. Some programs allow less, but they come with stricter credit and reserve requirements.
Yes, but lender appraisal requirements are strict. Rural properties with limited comparable sales require lenders experienced with Ventura County rural valuations.
Not always. Jumbo rates sometimes run below conforming rates for strong borrowers. Rates vary by borrower profile and market conditions.
Yes. Jumbo ARMs are popular with buyers who plan to sell or refinance within 5-10 years. They often carry lower initial rates than fixed jumbo loans.
Banks offer one set of jumbo guidelines. A broker shops across many wholesale lenders to find better pricing and more flexible underwriting.