What is a Jumbo Loan?

San Diego Jumbo Loans allow for higher loan amounts than what a conforming loan would allow.

Nationally the conforming loan limit is set at $647,200.  Any loan amount above that would fall under a Jumbo Loan program.

Due to the lack of Jumbo Loan financing over the last few years Fannie Mae and Freddie Mac have offered what they call a High Balance Loan Program for high cost areas in California like San Diego County and LA County.

In San Diego a borrower can obtain a loan amount up to $879,750 in 2022.

In areas like San Diego, California, a Jumbo Loan would be used when the loan amount exceeds $879,750.

San Diego Jumbo Loan Options

Jumbo Loans are available with Fixed rates of usually 30 or 15 years and ARMs, which are offered at 5, 7, and 10 year fixed periods, but amortized over 30 years (5/1, 7/1, 10/1).

We have fixed rate Jumbo Loans in San Diego up to $2 Million and ARMs that go as high as $5 million.

As a San Diego Mortgage Broker, we also have some Unique Jumbo Programs in San Diego available as well, like a pledged asset program which allows Jumbo Loans up to 90% LTV without mortgage insurance and an asset depletion program which allows assets to be counted as income to qualify.

Please see recent posts on Jumbo Loans:

San Diego Jumbo Loans to $1.275 Million at 85% LTV

Would You Like a Million Dollar 30 Year Fixed at 4.25%?

New Option to Avoid Mortgage Insurance up to a 90% Loan to Value