Loan guide, San Diego
Jumbo
For loan amounts above the conforming limit. Bigger loans, deeper paperwork, and we shop the lenders that price them best.
Down payment from
10%
Credit score from
700
Terms
15 or 30 years, fixed or ARM
A jumbo loan is any mortgage larger than the conforming loan limit for your county. In high-cost areas like San Diego, many buyers need one for a single-family home.
Because Fannie Mae and Freddie Mac do not buy these loans, each lender sets its own rules. That is exactly where a broker helps: pricing and guidelines vary widely from one jumbo lender to the next.
Down payments from 10% to 20% depending on the lender and loan size
Cash reserves of 6 to 12 months of payments are common
Some lenders require two appraisals on larger loans
Why people choose it
Finance a higher-priced home with one loan instead of two
Rates can match or beat conforming rates for strong borrowers
Interest-only and ARM options exist with select lenders
Watch out for
Stricter credit, income and reserve requirements
More documentation, and underwriting can take longer
Guidelines change between lenders, ask before you assume
Is this the right loan for you?
A 20-minute call tells you whether it fits, roughly what it costs and what to gather. No hard credit pull to start.
Guidelines vary by lender and change often. Sample figures only, not a commitment to lend. NMLS # 000000 (demo).
Other loans worth a look.
10 to 30 years, fixed or ARM
Conventional
The most common home loan in the country. Put as little as 3% down, and drop mortgage insurance once you reach 20% equity.
Read the guide
15 or 30 years, fixed
FHA
Government-insured loans with 3.5% down and flexible credit guidelines. Mortgage insurance is part of the package.
Read the guide
15 or 30 years, fixed or ARM
VA
Zero down, no monthly mortgage insurance and competitive rates for the people who served.
Read the guide