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Jumbo Loans San Diego

Jumbo Loans are mortgage loans that exceed conforming loan limits set by the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, and are ideal for purchasing expensive properties. In most areas of the United States, the loan limit is $417,000 and $625,000 in higher cost areas. Any loan amount above these amounts would fall under a Jumbo Loan program. In areas like San Diego, California, a Jumbo Loan would apply to loan amount exceeding $546,250.

San Diego Jumbo Loans Options

Jumbo Loans are typically available in shorter and longer terms of fixed rates. This includes an Asset Depletion Program which allows you to include your assets in order to qualify for your loan and a Pledged Asset Program, which allows Jumbo Loans up to 90% LTV without mortgage insurance.

Are you eligible for a Jumbo Loan?

  • The qualification process is similar to that of a conforming mortgage except that lenders of Jumbo Loan mortgages typically require two appraisals instead of just one.
  • Down payment requirements also differ in many cases, usually requiring higher down payments amounts. The minimum could be 15%, 20%, or even 30% for home purchases.
  • Many lenders require a credit score of 700 or higher, a debt-to-income ratio of 43% or less, and 6-12 months worth of reserves.
Get in touch with us today to see if you qualify!

American Financial Network, Inc. is not acting on behalf of or at the direction of the federal government, and this offer is not being made by an agency of the government.