In California, many homes fall within the conforming loan limits set by Fannie Mae and Freddie Mac, which means that they can be purchased using conventional loans. But many homes within San Diego county exceed these limits, which means that they can only be purchased using jumbo loans.
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Do You Need a Jumbo Loan?
The conforming loan limits in San Diego County for 2026 are:
- 1 unit: $1,104,000
- 2 units: $1,413,350
- 3 units: $1,708,400
- 4 units: $2,123,100
While the median home value currently falls below these limits, there are still many homes which do require jumbo loans to purchase.
Jumbo Loan Requirements
Shopping for a jumbo loan is very much like shopping for a conventional loan, but you will find that the requirements are more stringent, because the loan is perceived of as carrying more risk. For this reason, you will need to be ready to meet the following additional requirements:
- In certain situations, instead of just one appraisal, you will need to get two.
- Your credit score will usually need to be in the 700 or higher range (the higher the better for optimal pricing).
- Your debt-to-income ratio should be 43% or lower.
- Your down payment requirement will be at least 20% down.
- You will need to document at least 6 months of reserve cash (the more you have in reserves, the more optimal the pricing).
Because of these added requirements, it is extra important to make sure you are getting competitive rates and friendly terms on your jumbo loan.
Get the Most Competitive Jumbo Loans in San Diego with Maureen Martin and HomePlus Mortgage
Maureen Martin with HomePlus Mortgage is a direct lender, not a mortgage broker. That means that when you work with us, there is no middleman, which helps us reduce costs and offer some of the most competitive jumbo loan rates. Everything is done in-house, and we focus on providing excellent communication, customer service, and flexibility through the entire application process. Give us a call today at (619) 857-7191, and we will set up a consultation!
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