Question 1

What is the conforming loan limit in Yolo County?

Accepted Answer

The FHFA sets conforming limits annually. Any loan above that limit in Yolo County requires jumbo financing. Rates vary by borrower profile and market conditions.

Question 2

Do jumbo loans always have higher rates than conventional?

Accepted Answer

Not always. Jumbo rates depend on lender appetite and your profile. Shopping across multiple lenders, as we do, can close that gap. Rates vary by borrower profile and market conditions.

Question 3

How much down payment does a jumbo loan require in Winters?

Accepted Answer

Most jumbo lenders want 10-20% down. Some require more depending on loan size and credit profile.

Question 4

Can I use gift funds on a jumbo loan?

Accepted Answer

Gift fund rules on jumbo loans vary by lender. Conventional loans have clearer agency guidelines on gift fund usage.

Question 5

What credit score do I need for a conventional loan?

Accepted Answer

Lenders require a minimum 620 score for conventional. Higher scores get better pricing on both rate and PMI.

Question 6

How many months of reserves do jumbo lenders want?

Accepted Answer

Most jumbo lenders want 6-12 months of reserves in liquid accounts. Conventional programs typically require far less.

Conventional vs Jumbo Loans in Winters, CA