Jumbo Loan Down Payment — California
How much down payment do you need for a jumbo loan?
Down payment requirements on jumbo loans vary by program, loan amount, and property type. Here’s a clear breakdown of what to expect.
The range: 10% to 30%
| Scenario | Minimum down payment | Key conditions |
|---|---|---|
| Primary residence — low loan amount | 10% (90% LTV) | Higher credit score; fixed rate only; no gift funds; impounds required |
| Primary residence — standard | 20% (80% LTV) | Broadest access across all programs and loan amounts |
| Second home | 20% (80% LTV) | Standard for most programs up to $2M |
| Investment property | 25–30% (70–75% LTV) | Stricter requirements across all programs |
Can you put 10% down on a jumbo loan?
Yes — several programs allow as little as 10% down on primary residence purchases. This scenario comes with conditions: fixed rate only, no secondary financing, no gift funds, reduced maximum DTI, and required impound accounts.
Gift funds for the down payment
Gift funds from a qualified donor are allowed on most jumbo programs for primary residence purchases at 80% LTV or below. They are generally not permitted above 80% LTV, on investment properties, or for first-time buyers with loan amounts above $1M in California.
Do you need mortgage insurance below 20% down?
No — jumbo loans do not require private mortgage insurance (PMI), even when the down payment is below 20%. This is one of the key advantages of jumbo financing.
In California, 20% down on a $1.2M home means $240,000 at closing. If you don’t have that, 10% down programs exist — but require a stronger overall profile.
Serving California homebuyers and investors — Orange County, Los Angeles, San Diego, the Inland Empire, and communities throughout Southern California including Irvine, Huntington Beach, Anaheim, Fullerton, Garden Grove, and Santa Ana.