A jumbo loan is any mortgage above the conforming loan limit. In most counties, that limit is $832,750. In high-cost areas like Los Angeles and Orange County, there is a high-balance tier up to $1,249,125. True jumbo loans go from $832,751 all the way up to $30,000,000. Rob Tennyson has access to competitive products across the entire range.
In Los Angeles and Orange County, loan amounts between $832,751 and $1,249,125 qualify as high-balance conforming loans. These are still purchased by Fannie Mae and Freddie Mac and typically offer better rates than true jumbo loans. True jumbo loans above $1,249,125 are priced individually by each lender, which is why having a broker with access to multiple jumbo lenders is so valuable. Rob shops multiple wholesale lenders to find you the best rate.
Jumbo loans require a stronger financial profile than conforming loans. Most lenders look for a 700 or higher credit score (720 or higher is preferred), a 10% to 20% or more down payment, at least 12 months of reserves, a debt-to-income ratio under 43%, and full income documentation. Rob works with multiple jumbo lenders to find the best fit for your specific numbers.
Getting pre-approved with an experienced jumbo lender is essential when purchasing a high-value home. Rob Tennyson has deep relationships with wholesale jumbo lenders and can quickly identify the best program for your situation. Apply by clicking here or call 714-400-2317.
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