Jumbo Loans in California
First Capital Mortgage Inc. is a California mortgage broker headquartered in Modesto, with a branch in Indio, serving buyers and homeowners across the state, from the Central Valley to the Coachella Valley and everywhere in between. In California, a jumbo loan is not an exotic product. In many coastal and Southern California markets it is simply what a normal home costs, and having 25+ lenders compete for it matters more than anywhere else.
How a Jumbo Loan Works
A jumbo loan is any mortgage larger than the conforming loan limit that Fannie Mae and Freddie Mac will buy. The baseline limit is above $800,000 for most counties, and higher-cost California counties have limits well above that. Because jumbo loans are not sold to Fannie or Freddie, each lender sets its own guidelines on credit, reserves, and down payment. That is why shopping them across many lenders changes the answer so much.
What Jumbo Lenders Look For
- Down payments starting around 10% with some lenders, 20% for the best pricing
- Strong credit, typically 700 and up, with the best rates above 740
- Cash reserves after closing, often 6 to 12 months of payments
- Full income documentation, or bank-statement programs for self-employed borrowers
We also handle jumbo refinances, cash-out jumbos, and financing for second homes and investment properties in the jumbo range.
The Jumbo Loan Process
- Start Here. The online application takes about 15 minutes. Basic personal info, income, and permission to review credit.
- We shop it. One file goes to 25+ wholesale lenders, and we come back with the options that actually fit your scenario.
- Compare in plain English. Rate, payment, cash to close, and the trade-offs between them, side by side.
- Close on time. Most purchases fund in under 30 days, with a weekly update so you and your agent always know where things stand.
Jumbo Questions We Hear Every Week
Are jumbo rates always higher?
Not anymore. Depending on the lender and your profile, jumbo pricing is sometimes equal to or better than conforming. We price both when you are near the limit.
Can I avoid jumbo with a bigger down payment?
Often yes. If the loan amount can land at or below the county limit, a conforming loan may be simpler. We show you the break-even.
I am self-employed. Can I still get a jumbo?
Yes. Several of our lenders qualify on 12 or 24 months of bank statements instead of tax returns.
Start Here: 15-Minute Jumbo Application
Not Sure a Jumbo Loan Is the Right Fit?
That is exactly the conversation to have before you apply. Call (209) 522-7100 or send us a note, and we will tell you straight whether it fits or whether a different program serves you better. You can also compare every option on our California loan programs page.