Jumbo Loans
A jumbo loan is a mortgage above the conforming loan limit for your county. For 2026, that limit is $832,750 in lower-cost areas and up to $1,249,125 in the highest-cost California counties. Because California home prices are high, many buyers and homeowners end up needing one.
Key Takeaways
- A loan is jumbo when it exceeds your county’s conforming limit. Use our loan limit lookup to check.
- Jumbo loans typically ask for stronger credit (often 700+), 10% to 20% down, and cash reserves often in the 6 to 12 month range.
- Rates can be close to conforming rates, but standards are set by each lender.
- Full documentation is typical; some very large loans need two appraisals.
What is a jumbo loan?
Jumbo loans are not eligible for purchase by Fannie Mae or Freddie Mac, so each lender sets its own guidelines. That means standards are higher and vary more. A loan that would be a high-balance conventional loan in one county can be jumbo in another, since limits are set by county. Learn how limits work in conventional loan limits in California, then read the full explanation at what is a jumbo loan.
Why are jumbo loans so common in California?
Median prices in many California markets are well above the national baseline. A $1,500,000 home with 20% down needs a $1,200,000 loan, which fits under the $1,249,125 ceiling. But with 10% down, the loan is $1,350,000, which is above it. Larger homes in Orange County, Los Angeles and the Bay Area often cross the line even with substantial down payments.
What do jumbo lenders look for?
- Credit: often 700 or higher.
- Down payment: typically 10% to 20%, with higher-priced loans on the higher end.
- Reserves: cash left after closing, often 6 to 12 months of payments.
- Documentation: full documentation of income and assets.
- Appraisal: sometimes two appraisals for very large loans.
Not all programs are identical, and ratios vary by lender and property. Rates and terms depend on your situation; approval requires qualification.
Which jumbo topics should I read next?
- Jumbo vs. conventional: how the two differ in cost and rules.
- Qualification requirements: the overall checklist.
- Credit score: what scores lenders look for.
- Down payment: typical ranges and structures.
- 10 percent down: when it is possible and what it costs.
- Reserve requirements: how much cash to keep after closing.
- DTI requirements: debt limits.
- Self-employed borrowers: documentation for business owners.
- First-time buyers: what to expect.
- Fixed vs. ARM: choosing a rate structure.
- Investment property and second home: rules by occupancy.
- Refinance and cash-out refinance.
- Pros and cons: an honest summary.
Prefer to see the full list? Visit all jumbo loan topics.
Is a jumbo loan right for me?
If you can bring a larger down payment, ask whether trimming the loan below your county limit would be cheaper. If not, jumbo is the path. If your income is hard to document in the standard way, non-QM loans may come into the picture. Compare the other loan types in Types of Home Loans and Conventional Loans.
At Lendia, we compare jumbo options
At Lendia, we compare options from multiple lenders so you can weigh jumbo rates, reserves and down payments side by side. Contact us or get a rate quote now.
Frequently Asked Questions
How much is a jumbo loan in California?
Any loan above your county’s 2026 limit, which ranges from $832,750 up to $1,249,125 for one unit.
Do jumbo loans have higher rates?
Not always. Rates can be close to conforming rates, but they depend on credit, down payment and reserves.
Do jumbo loans require PMI?
There is no standard PMI product like conforming loans. Lenders usually manage risk with larger down payments or higher pricing.
Can I get a jumbo loan with 10% down?
Sometimes, with strong credit and reserves, and usually at higher cost.
Do I need two appraisals?
Sometimes, for very large loan amounts.
Talk to a Licensed Lendia California Loan Officer
At Lendia, we review your situation and show you the programs you qualify for.