Do You Need a Jumbo Loan in California?
To determine whether a jumbo mortgage is necessary for your home purchase, you will need to familiarize yourself with the conforming loan limits in the area.
As conforming loan limits are different from county to county, you will need to look up what the limits are for the county where you are shopping for a home.
In Madera County, where Oakhurst is located, the conforming loan limits are:
These are also the conforming loan limits for Fresno County.
Conventional loan limits are higher in some of the nearby counties with more expensive housing.
In San Francisco County and Santa Clara County, for instance, the conventional loan limits are:
If the amount of money you need to borrow to finance your home purchase exceeds the conforming loan limits for the county where the home is located, then a jumbo loan is appropriate.