California Jumbo Loans
Finance Your Dream Home Above $832K

A jumbo loan is a mortgage that exceeds conforming loan limits set by Fannie Mae and Freddie Mac. In most California counties, the 2026 conforming limit is $832,750 (up to $1,249,125 in high-cost areas like LA and SF). Any loan above these limits is considered jumbo and isn't backed by government-sponsored enterprises, which historically meant higher rates and stricter requirements.

Most jumbo lenders require a minimum 700 credit score, with 720+ needed for the best rates. For super jumbo loans ($3M+), lenders typically want 740+. Strong credit is more important for jumbo loans because there's no government backing - lenders take on more risk and want qualified borrowers.

Jumbo down payments typically range from 10-25% depending on loan size and borrower strength. For loans under $1.5M, 10-15% down is common with excellent credit. Loans $1.5M-$3M usually require 15-20% down. Super jumbo loans ($3M+) often require 20-25% down. Some lenders offer 10% down up to $2M for strong borrowers.

Historically yes, but the gap has narrowed significantly. In today's market, jumbo rates are often within 0.25% of conforming rates, and some lenders offer jumbo rates that match or beat conforming. Strong borrowers with excellent credit, substantial assets, and 20%+ down often get very competitive jumbo rates.

Jumbo lenders typically require 6-12 months of cash reserves (principal, interest, taxes, insurance payments) in liquid assets after closing. For larger loans ($2M+), expect to show 12-18 months reserves. Reserves can include checking/savings accounts, investment accounts, and retirement funds (often counted at 60-70%).

Yes, jumbo loans are available for investment properties, though requirements are stricter: typically 25-30% down, 720+ credit score, and lower maximum DTI ratios. For investors seeking more flexibility, DSCR loans may be a better option as they qualify based on rental income rather than personal income.

Jumbo loans typically cover amounts from conforming limits up to $1.5-2M. Super jumbo loans are for amounts above $2-3M, sometimes reaching $10M or more. Super jumbo loans have stricter requirements: higher credit scores (740+), larger down payments (20-30%), and more cash reserves. They're often portfolio loans kept by the originating bank.

Jumbo loans typically take 30-45 days to close, sometimes longer due to more extensive underwriting, larger appraisals, and asset verification. Complex borrower profiles (self-employed, multiple properties) may extend timelines. Having documents ready and responsive communication can help expedite the process.