Jumbo Loans

Jumbo Loans:

Jumbo Loans are loans that exceed the maximum loan amounts established by Fannie Mae and Freddie Mac. Rates on jumbo loans are typically higher than conforming loans, but can occasionally be better depending on the scenario. Jumbo Loans are typically used to buy more expensive homes, and generally require a higher down payment than traditional loans.

Most Jumbo lenders hold these loans in their portfolio rather than securitize and sell them on the secondary market, like Fannie Mae and Freddie Mac.  Their criteria for credit, cash reserves, and debt to income ratios are tighter than conventional loans due to the higher risk for securing a larger mortgage.

In the surrounding areas of San Francisco Jumbo lenders tend to have more exposure in this market in comparison to other areas of California.  The higher priced condos and single family homes would require a much larger down payment to reach the $625,500 threshold for Fannie Mae and Freddie Mac for a one unit property in the San Francisco Bay Area.

Since Jumbo lenders can really play by their own rules by setting their own qualifying criteria it is best to reach out to a mortgage broker to be sure the right lender is selected for your mortgage.


Apply Now

Return to Loan Options

 

Quick Quote

Quick Quote Image

 
 
No errors
 
 
No errors
 
 
No errors
 
 
No errors
 
 
 
No errors
 
 
No errors
 
 
No errors
 
 
No errors
 
 
 
secure

Trusted. Experienced. Secure.

 
 
 

Real Estate Marketplace

Home SearchView Featured HomesDream Home RequestHome Value Wizard