Jumbo Loans

Jumbo Loans in San Diego

Jumbo loans are similar to conventional loans, but the size of the loan is bigger. Loans are considered jumbo when they exceed conforming loan limits. Larger loans carry more risk, so qualification requirements for jumbo loans are generally stricter.

Jumbo Loans 101

  • 01. Who It's For
  • 02. Benefits
  • 03. Eligibility

Is a Jumbo Loan Right for Me?

A jumbo loan might be right for you if you’re looking for a loan that’s greater than your county’s conforming loan limit (which is different everywhere) – and you meet the eligibility requirements.

Benefits of a Jumbo Loan

Get Your Dream Home

Don’t get stuck inside loan limits. With a jumbo loan from UW Funding, you can borrow much more.

Save Money

As jumbo loans require a deposit of at least 20%, costly mortgage insurance isn’t usually required.

Alternative Qualification

At UW Funding, you can qualify for a jumbo loan with your existing properties and bank statements.

Great Jumbo Rates

Some lenders charge an arm and a leg for jumbo loans. UW Funding doesn’t: we have great rates.

Jumbo Loan Eligibility Requirements

  • A good credit score
  • Typically, a deposit of 20% or higher
  • Proof of ability to repay the loan
  • Documentation of assets & lifestyle

Jumbo Loan FAQs

  • Why are rates higher with jumbo mortgages?

    The rates are typically higher with jumbo mortgages due to the higher level of risk associated with financing a larger property that may be more difficult to sell and recoup losses in the case of a default.

  • Where can I find my county’s conforming loan limit?

    It’s publicly available online, and changes every year. Here is one good resource for current county conforming loan limits.

  • Why do I have to put down a 20% deposit?

    A: Qualification requirements for jumbo loans are tougher and more conservative in order to mitigate the higher risk involved for the lender – there’s a big difference between lending one $3 million loan vs ten $300,000 loans. A larger deposit generally means a lower risk of default (as the borrower has put down more of their own cash).

What Our Clients Say

Andreal & Tina C.

Craig was instrumental in me and my wife buying our first home together. He was able to get us a great rate, even with my low [credit] score, and we were able to move into our new home. We are very pleased with the service and professionalism Craig provided us and will continue to work with him for all of our housing finances in the future.

Heather & Teague G.

We highly recommend United Wholesale Funding. We are on our second home purchase with Craig. You lose sleep buying your first home and it’s comforting to know you have the right lender looking out for your best interests. Two years later, we are on our second home and, just like the first, best rate, no fees and thousands of dollars saved!

Michael H.

We are so glad we trusted Craig with our refinance. We were able to take cash out with absolutely no fees! In hindsight, we wished we would have used him for our purchase. Sure enough, we had a straightforward closing with no surprises and we are truly grateful for our friends referring Craig to us.

Begin Your Home Loan Journey Today

Ready to get started? Get a quick quote or contact Craig to ask questions and discuss your options.

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