The Jumbo loan remains popular in high-cost locations throughout California, including San Diego. Jumbo mortgages are defined as any loan amount that exceeds the base conforming loan limit. For San Diego County, the limit is currently $1,077,550 for a 1-unit single-family home. Homebuyers can view the latest list of 2025 Conforming loan limits here.
When compared to conventional loans, Jumbo loans have historically required greater down payments from banks and lenders. That’s not so much the case any longer, as approved buyers have many different financing options up to 95 percent loan to value. Below, we have detailed the LTV and loan limits, along with the program restrictions for the most popular options. Please contact us at the number above with questions, 7 days a week.
San Diego 5% Down Jumbo:
- The loan limit cap is $2,000,000
- 680 credit score required (mid score average from all three credit depositories) *740 required if the loan exceeds $1.5m
- Regular single-family, townhomes, and condos approved
- Loan structures include single standalone 95% and 80-15 combo “piggyback” loans
- Private mortgage insurance is not required
- Loan terms include all regular 30,20,15 year fix interest rates and adjustable-rate 3/1, 5/1, 7/1, 10/1 ARM
San Diego 10% Down Jumbo:
- The loan cap is $3,000,000
- 720 credit is required when financing over $2.0 mil
- 680 credit is required when financing below $1.5 mil
- Loan structures include single standalone 90% and 80-10 combo “piggyback” loans
- Private mortgage insurance is not required
- All other features listed above
15% Down Jumbo:
- The loan cap is $3,500,000
- 740 credit required when financing over $2.5mil
- 700 credit required when financing below $2.5mil
- Loan structures include single standalone 85% and 80-5 combo “piggyback” loans
- Private mortgage insurance is not required
- All other features listed above
Jumbo Program Requirements (Applies to all programs)
- The home to be purchased must be a primary, owner-occupied home or second home. Borrowers who want to purchase an investment property have financing options with a greater 20%+ down payment.
- Home buyers will need to fully document income and assets. This includes 2 years of tax returns and/or W2. Three months of assets to document down payment, closing costs, and reserve requirements. The exception to this is self-employed buyers using the Jumbo bank statement loan.
- Home buyers should have payment reserves. The amount of reserves will depend on the down payment, loan amount, credit, etc. For loans below $2m, 3-6mo of payment reserves is common. Larger loans may require more. Example: if the borrowers mortgage payment (PITI) is $7,000 per month, and the program requires 3 months of payment reserves, the borrower should be able to document $21,000 in a liquid or non-liquid account. This is after their down payment and closing costs obligations are satisfied.
- Eligible borrowers must be U.S. Citizens.
Jumbo Refinance Programs:
Jumbo Refinance Programs:Qualified homeowners have options for both rate-term reduction and cash-out refinance. Many homeowners in CA have built significant equity in recent years, and a cash-out refinance can help with a debt consolidation or fund needed home renovations.
Additionally, homeowners with adjustable-rate mortgages (ARMs) can benefit from a rate-term reduction refinance to lock in a lower fixed interest rate. It is important to note that borrowing limits and loan-to-value ratios may vary depending on the program and specific lender guidelines.
When considering a jumbo refinance, it is crucial to work with a reputable lender who has experience in this market and can provide personalized guidance based on your individual financial goals. Jumbo mortgage rates may be slightly higher than conventional mortgage rates, but by refinancing at the right time and with the right strategy, homeowners can still save money in the long run.
Please read more about Jumbo refinance programs on the page above.
San Diego VA Jumbo Loans:
San Diego VA Jumbo Loans:VA loans are obviously very popular in the San Diego area. Many Veterans are unaware they can use their VA entitlement for much larger mortgages, up to $4,000,000 in some cases. Standard qualifying requirements regarding credit, debt-ratios do apply. Eligible Veterans can read more about special VA high-balance jumbo loans here. 100% VA financing for loans up to $4m. The VA Jumbo loans include all the same great benefits as a regular VA mortgage, like no monthly mortgage insurance combined with attractive low interest rates.
Please contact us today to learn more about the best jumbo financing options available in California. Home buyers can call or submit the Quick Contact Form, 7 days a week.
