Jumbo Loans
in the Bay Area

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If you are shopping for a home in the San Francisco Bay Area, you know housing here is in high demand. That means there are many situations where you might need to apply for jumbo financing to purchase the home of your dreams.


What is a Jumbo Loan?

A jumbo loan allows you to obtain financing which surpasses the limits set by Fannie Mae and Freddie Mac for conventional lending.

Do You Need a Jumbo Loan in the San Francisco Bay Area?

The San Francisco Bay Area features high home values, which is why Fannie Mae and Freddie Mac have set higher conforming loan limits for many counties in the region than they have for others throughout the country.

For example, the conventional loan limits for Contra Costa County, where we are based, are as follows:

1 UNIT

$726,525

2 UNITS

$930,300

3 UNITS

$1,124,475

4 UNITS

$1,397,400

The same limits apply in San Francisco County.

Other counties with these same conforming loan limits include Marin, San Mateo, Santa Cruz, Santa Clara, San Benito, Monterey, and Napa.

In some of the surrounding counties, the limits are reduced. This is because those counties tend to have lower home values.

How likely is it that you will end up needing a jumbo loan?

Consider that as of the time of this writing, the average home value in Walnut Creek is around $874,200 according to Zillow.

That exceeds the $726,525 conforming loan limit for a single unit. So there is a pretty good chance that a jumbo loan will be appropriate for you if you are shopping for home anywhere in the Bay Area.

Qualifying for a Jumbo Loan in Walnut Creek

In general, the process of applying for jumbo financing is not much different from the application process for a conventional loan in the Bay Area.

You will want as low a risk profile as possible as a borrower. That means a high credit score and low debt-to-income ratio.

At least six months of cash reserves are typically required. Some lenders may ask for a whole year of reserves. You must be able to document the existence of these reserves.

It is possible to find a jumbo loan with a down payment which is in line with what you would have to put down with a conventional loan. Down payments can run higher for jumbo loans, however—up to 30%.

It is common to need to appraise the property you want to purchase twice to qualify for a jumbo loan.

What Our Clients Are Saying

Phillip Lavios
Phillip Lavios
00:01 13 Jun 19
Mike Alex, and Mailly are the best to deal with when refinancing your home, they made the process seamless, and cery painless! They were very patient with me, and I highly recommend them to refinance your home!read more
seymur107
seymur107
06:23 25 Apr 19
Mike is a lifesaver! After I found my dream house, I was working with another lender who was bringing new problems every day and delaying the process and keep promising. After 6 weeks time waste they said they cannot do my loan. That's when Mike came in like an angel and saved us. In less than 2 weeks he closed the deal and asking almost no additional documents. Very smooth process. It was a hard lesson for me that its very important to work with the right people, especially if you making one of the most important financial decisions of your life. And Mike and his team are definitely are the best people for it!read more
Eyebrow Plus, Inc.
Eyebrow Plus, Inc.
21:55 17 Jan 19
We had a great experience with Bridgepoint Funding. The loan process was smooth and faster than we expected. The Bridgepoint team is strong and well-coordinated.Thank you Alex, Mike and Maily for your much needed help!F. Aread more
Stephen Jotten
Stephen Jotten
23:50 29 Dec 18
This was the most smooth loan process my wife and I were able to have. Mike and his staff made sure we did not lose our first house. It was a seamless process.
Armando Troche
Armando Troche
08:51 23 Nov 18
Bridgepoint Funding was effective, reliable, and efficient. We switched from a different lender to find a better interest rate. Mike and his team worked quickly to gather our documents, secure the best interest rate, and get our loan squared away. Now we're living it up in our new home!read more
KelliCardenas PS video
KelliCardenas PS video
14:21 29 Mar 18
I have been working with Mike, Kim, and Alex for a lot of years and all of them go that extra mile when it comes to professionalism and customer service. I have worked with many different lenders over the years, but Bridgepoint Funding is the best by far! They do not discriminate against anyone, no matter what! They treat every client with respect and fairness. I know from experience that if your loan process hits a bump in the road, Mike and his staff always remain calm and the end results are a closed loan and a happy client. I would highly recommend the Bridgepoint funding staff for any lending needs.read more
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Apply for a Competitive Bay Area Jumbo Loan

Although qualification requirements for jumbo financing are more strict than those for conventional financing, it does not need to be difficult to qualify for a competitive loan.

In fact, it is a mistake to assume that you will be paying higher interest rates with a jumbo loan by default. With solid bargaining power and the right mortgage broker on your side, you could get low rates which are just as affordable as conventional loan rates.

If you are ready to apply now for a competitive jumbo loan in Walnut Creek or elsewhere in the Bay Area, please call (925) 478-8630 to schedule your consultation. While we are based in Walnut Creek CA, we serve customers in the San Francisco Bay Area. This includes Martinez, Concord, Pleasant Hill, Alamo, Danville, San Ramon, Orinda, Moraga, Lafayette and throughout California.

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