Jumbo Loans
Weâre gonna need a bigger loan.
San Diego Jumbo Loans
Need a bigger loan for your dream home or property? Then a jumbo loan might be right for you. While similar to conventional loans, jumbo mortgages exceed the amount of conventional conforming loan limits. With larger loans come increased risk, so keep in mind that San Diego jumbo loan qualification requirements can be stricter.
About Jumbo Loans
Is a Jumbo Loan Right for You?
Maximum conforming loan amounts vary across counties. Consider a jumbo loan if you need a loan that exceeds your countyâs limit. Learn more about jumbo loan benefits and if you meet eligibility requirements.
Benefits of a San Diego Jumbo Loan
The Right Loan, Your Dream Home
Get the home you want with the loan you need. At National Home Loans, we have jumbo loan options for you.
Save on Insurance Costs
Since a 20% down payment is typically needed for jumbo loans, private mortgage insurance isnât always required.
Alternative Qualification
At National Home Loans, you can qualify for a jumbo loan with your existing properties and bank statements.
Great Jumbo Rates
Get access to incredible rates with National Home Loans and save more for your home upgrades.
San Diego Jumbo Loan Eligibility Requirements
- Good credit score
- A deposit of 20% or higher
- Proof that you are able to repay the loan
- Statement of assets
Jumbo Loan FAQs
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Why are rates higher with jumbo mortgages?
The rates are typically higher with jumbo mortgages because of the higher risk associated with financing a larger property. If the loan defaults, it may be harder to sell the property and to recover any losses.
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How do I find my countyâs conforming loan limit?
Here is a good starting point for current county conforming loan limits. Keep in mind that these change every year.
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Do I really have to put down a 20% deposit?
A larger deposit generally means a lower risk of default (as the borrower has put down more of their own cash). This is to mitigate the higher risk involved for the lender. To qualify for a jumbo loan with a smaller down payment, you will need a really good credit history, strong income, or reserve assets that can cover 6-12 months of payment.
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