Question 1

What is the conforming loan limit in Yolo County?

Accepted Answer

The FHFA sets this limit and it changes annually. Any loan amount above that threshold in Yolo County requires jumbo financing.

Question 2

Can I get a jumbo loan with less than 20% down?

Accepted Answer

Some lenders allow 10% down on jumbo loans. Expect stricter credit and reserve requirements at lower down payment amounts.

Question 3

Do jumbo loans have higher rates than conventional?

Accepted Answer

Not always — but the gap matters more on large balances. Rates vary by borrower profile and market conditions.

Question 4

What credit score do I need for a conventional loan in Davis?

Accepted Answer

Most conventional lenders require a 620 minimum. A score above 740 gets you the best pricing.

Question 5

How many months of reserves does a jumbo lender require?

Accepted Answer

Most jumbo lenders want 12 months of mortgage payments in reserve. Some programs require more on larger loan amounts.

Question 6

Can I avoid PMI on a conventional loan?

Accepted Answer

Yes. Put 20% down and PMI goes away. Some lenders also offer lender-paid PMI options at a slightly higher rate.

Conventional vs Jumbo Loans in Davis, CA