4 Best Jumbo Loans in California


Jumbo mortgage loans provide Californians with a unified way to finance high-cost homes.

Key Terms

  • Jumbo loans in California offer borrowers higher limits on home purchases.
  • A California jumbo loan often does not require a large down payment.
  • The higher limits can give Californians an easy way to finance a home in high-price regions.

California is a place of dreams for many. Whether you are pursuing a dream in television or film in Los Angeles, enjoying Orange County and San Diego beaches, hiking in Riverside, exploring new technological heights in the North in Santa Clara County, or living the agricultural life in the state’s center, California offers a great quality of life, a wonderful climate, and a beautiful landscape. 

The cost of all that famous California beauty is getting high in many regions of the state, however. Whether you live in Alameda or the capital of Sacramento, home prices in California are on the rise. According to the California Association of Realtors, the median sales price of a home in California is $898,980. That number is over the conforming limit for conventional loans in many counties, making it hard for homebuyers to finance a home in the state with traditional home loans. 

For the most recent year, the HDMA data places California first in the country in terms of mortgage origination activity, with a total of $239 billion in jumbo mortgages originated. Given the purchase prices in the California housing market, it’s no wonder that so many Californians are turning to jumbo home loans. 

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What is the jumbo loan limit in California?

The jumbo loan limit in California for most counties is $647,200. For counties along the coast, including San Francisco and Los Angeles, the California conforming loan limit is $970,800. Any loan that exceeds either $647,200 or $970,800 is a jumbo loan, depending on the county.

California Jumbo Loan Limits (October 2022)

California county-by-county jumbo loan, conforming loan and FHA loan limits.

California
County
California
Jumbo loan
(1-unit)
California
Conforming
loan limit
(1-unit)
California
FHA loan limit
(1-unit)
Alameda$970,800+$970,800 $970,800
Alpine$647,200+$647,200 $463,450
Amador$647,200+$647,200 $420,680
Butte$647,200+$647,200 $420,680
Calaveras$647,200+$647,200 $420,680
Colusa$647,200+$647,200 $420,680
Contra Costa$970,800+$970,800 $970,800
Del Norte$647,200+$647,200 $420,680
El Dorado$675,050+$675,050 $675,050
Fresno$647,200+$647,200 $420,680
Glenn$647,200+$647,200 $420,680
Humboldt$647,200+$647,200 $420,680
Imperial$647,200+$647,200 $420,680
Inyo$647,200+$647,200 $431,250
Kern$647,200+$647,200 $420,680
Kings$647,200+$647,200 $420,680
Lake$647,200+$647,200 $420,680
Lassen$647,200+$647,200 $420,680
Los Angeles$970,800+$970,800 $970,800
Madera$647,200+$647,200 $420,680
Marin$970,800+$970,800 $970,800
Mariposa$647,200+$647,200 $420,680
Mendocino$647,200+$647,200 $506,000
Merced$647,200+$647,200 $420,680
Modoc$647,200+$647,200 $420,680
Mono$647,200+$647,200 $563,500
Monterey$854,450+$854,450 $854,450
Napa$897,000+$897,000 $897,000
Nevada$647,200+$647,200 $609,500
Orange$970,800+$970,800 $970,800
Placer$675,050+$675,050 $675,050
Plumas$647,200+$647,200 $420,680
Riverside$647,200+$647,200 $562,350
Sacramento$675,050+$675,050 $675,050
San Benito$970,800+$970,800 $970,800
San Bernardino$647,200+$647,200 $562,350
San Diego$879,750+$879,750 $879,750
San Francisco$970,800+$970,800 $970,800
San Joaquin$647,200+$647,200 $563,500
San Luis Obispo$805,000+$805,000 $805,000
San Mateo$970,800+$970,800 $970,800
Santa Barbara$783,150+$783,150 $783,150
Santa Clara$970,800+$970,800 $970,800
Santa Cruz$970,800+$970,800 $970,800
Shasta$647,200+$647,200 $420,680
Sierra$647,200+$647,200 $420,680
Siskiyou$647,200+$647,200 $420,680
Solano$647,200+$647,200 $614,100
Sonoma$764,750+$764,750 $765,750
Stanislaus$647,200+$647,200 $460,000
Sutter$647,200+$647,200 $420,900
Tehama$647,200+$647,200 $420,680
Trinity$647,200+$647,200 $420,680
Tulare$647,200+$647,200 $420,680
Tuolumne$647,200+$647,200 $420,680
Ventura$851,000+$851,000 $851,000
Yolo$675,050+$675,050 $675,050
Yuba$647,200+$647,200 $420,900

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4 Top California jumbo loan lenders

If you’re ready to learn more about the best jumbo mortgage lenders in California, here are the top options we’ve found through our research.

1. SoFi

SoFi is a financial institution based in California that specializes in student loan refinance options, PLUS loans and flexible repayment terms. You might not know that they also offer jumbo loan mortgages. 

We spoke to a loan officer at SoFi to discuss their jumbo loan rates and this is what we learned:

  • Loan amounts up to $3 million
  • Down payments start at 10% and increase as the loan amount increases.
  • No PMI, regardless of your down payment amount, resulting in lower monthly payments.
  • 15-year or 30-year fixed rate products available

When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.

2. Keybank

Keybank has over $170 billion in assets and is the 24th largest bank in the United States. They operate throughout 39 states but can originate mortgages in nearly all 50, making them a popular choice among borrowers throughout the country. One of their key financial products is a jumbo mortgage loan.

We contacted Keybank to learn more about their jumbo loan mortgage rates and here are the key terms and highlights:

SilverKey Mortgage

  • Loan amounts up to $3.5 million
  • 10% down up to $1.5 million
  • Fixed or variable rates available
  • No private mortgage insurance required
  • Available for 1-to-4 unit properties, including single-family homes, condos or planned unit developments.

GoldKey Mortgage

  • Loan amounts up to $3.5 million
  • 10% down up to $1.5 million
  • Fixed or variable rates available
  • No private mortgage insurance required
  • Available for 1-to-4 unit properties, including single-family homes, condos or planned unit developments.
  • Available for second homes and investment properties.

Jumbo Interest-Only Mortgages

  • Loan amounts up to $3.5 million
  • 30% down on mortgages up to $1.5 million for primary residences
  • 35% down on mortgages up to $2 million for second homes
  • No private mortgage insurance required
  • ARM-only options

When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.

3. BMO Harris Bank

BMO Harris Bank is an established player in the mortgage industry that ranks 16th largest by total assets in the country. The bank offers a full range of financial products, including jumbo loans.

We spoke to a BMO Harris loan officer to get additional details about their jumbo loan options, many of which aren’t published. Here are some key terms and highlights:

  • 10% down to $1 million (740+ credit score)
  • 15% down to $1.5 million (720+ credit score)
  • 20% down to $2 million (700+ credit score)
  • 25% down to $3 million (700+ credit score)
  • 30% down to $5 million (700+ credit score)
  • 45% down over $5 million (700+ credit score)
  • 30/20/15/10 year fixed
  • 5/6, 7/6, and 10/6 Adjustable Rate Mortgages
  • All 50 states
  • 12 months reserves
  • 20% down tAll below LTVs 700+ credit score 

When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.

4. Flagstar Bank

Flagstar Bank has a jumbo product in all 50 states, making it a popular choice among many people looking for higher mortgage amounts. If you’re considering a jumbo mortgage, you’ll want to compare Flagstar’s rates as part of your analysis.

We reached out to a loan officer at Flagstar Bank to get details on their jumbo loan process. Here are the highlights:

  • Loan amounts up to $3 million on primary residences
  • Loan amounts up to $2.5 million on second homes
  • Purchase and rate/term refinance options available on primary residences and second homes
  • No prepayment penalties
  • First-time homebuyers permitted
  • No mortgage insurance options available
  • Cash-out options available on primary residence

When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.

The pros and cons of California jumbo loans

What are the pros and cons of taking out a California jumbo loan? The main advantage is that you will be able to finance a home purchase with a single loan and a low down payment. Conventional loans are not keeping pace with California home prices, meaning that your only option with traditional financing will be to patch together more than one mortgage. 

That does come with a few downsides, however. First, you need great credit to qualify for a jumbo loan. You also are looking at paying a higher interest rate, most likely. Conforming loan limits are set by the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, the two federal mortgage companies that buy most of the mortgages made in the U.S. from lenders and resell them to investors.

Of course, the truth is that home prices in California have gone far beyond conventional limits in many counties. That means that for many Californians a jumbo loan is the easiest and most unified way to finance a home purchase. When the alternative is having enough cash to offset conforming limits, the higher interest rate of a jumbo loan can become a more appealing option. 

Is a jumbo loan in California right for You?

A jumbo loan in California is a great option for borrowers with strong credit who live in high-price regions of the state. An Angeleno or a San Franciscan by definition is looking at real estate prices well above conventional limits. If you live in one of these regions or a similar region, have great credit and want the ease of a single loan to finance a home, a jumbo loan is a perfect choice for you. 

When is a jumbo loan not the right fit? If you have enough cash to put down on a conventional mortgage that will offset the limits and allow you to finance a home at a lower interest rate, then you might want to go with a conventional loan. That being said, with California prices the way they are, you are looking at a significant amount of cash to make that happen. 

If you’re looking to explore jumbo mortgage loans in other states, check out our national overview of jumbo loans as a starting point in your search.

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Joshua Holt

Joshua Holt is a licensed mortgage loan originator (NMLS #2306824) and founder of Biglaw Investor. His mortgage expertise lies in the areas of professional mortgage loans, particularly for lawyers, doctors and other high-income professionals. Prior to Biglaw Investor, Josh practiced private equity mergers & acquisition law for one of the largest law firms in the country.

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